INSKEEP: Technology giant Hewlett-Packard is poised to eliminate as many as 30,000 jobs worldwide. These cuts, though, will reportedly spare China - the company's largest source of growth, as well as its research and development divisions.
When Facebook makes its initial public offering Friday on the NASDAQ, the stock will be priced at $38 per share, a price that's expected to bring in between $16 billion and $18.4 billion to the company. CNBC reports:
"[The price makes] it one of the most lucrative offerings the Street has ever seen. With that valuation taken into consideration, Facebook goes public with the highest valuation — in the $100 billion range — of any company on record at the time of its IPO."
Several news outlets are reporting that computer giant Hewlett-Packard will announce the elimination of 25,000 to 30,000 jobs. All Things D reports that the announcement will come from CEO Meg Whitman when the company announces its quarterly earnings next Wednesday.
Facebook's initial public offering is shaping up to be one of the largest in history. This morning the company told the Securities and Exchange Commission that it was expanding its offering ... again.
Now Facebook is planning to raise up to $16 billion from investors by taking a small slice of the company to the public. And it will likely be worth more than $100 billion on its opening day of trading. It could easily go higher.