Computer maker Hewlett Packard to lay off around 27,000 staff

US-based Hewlett Packard has outlined a plan to lay off roughly 27,000 employees or about 8% of its workforce, generating annual savings of $3 billion to $3.5 bn (£2.2bn) by the end of the 2014 fiscal year.

The world's No. 1 personal computer maker said in a statement most of those savings would be reinvested into the company.