Hewlett-Packard Co. said its spinoff focused on selling corporate technology and services expects to cut its workforce by up to 30,000 additional employees based on the company's restructuring plan.

Overall, the new Hewlett-Packard Enterprise expects to cut $2.7 billion in costs.

"These restructuring activities will enable a more competitive, sustainable cost structure for the new Hewlett Packard Enterprise," Chief Executive Meg Whitman said in a news release. "We've done a significant amount of work over the past few years to take costs out and simplify processes, and these final actions will eliminate the need for any future corporate restructuring."

The new job cuts are on top of the 55,000 previously announced.

Shares of Hewlett-Packard slipped 2.8% to $26.36.

Hewlett Packard Enterprise, which is expected to split from the current Hewlett-Packard on Nov. 1, will primarily sell computers and software that corporations use to run their operations. That business is threatened by big companies renting computing power from Amazon.com Inc., Microsoft Corp. and International Business Machines Corp., among others.

The remaining company, HP Inc., will push personal computers and printers.

Write to George Stahl at george.stahl@wsj.com

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(END) Dow Jones Newswires

September 15, 2015 17:25 ET (21:25 GMT)

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