Hewlett-Packard To Lay Off Up To 16,000 Workers

Hewlett-Packard CEO Meg Whitman says recovery is still in the distance for the ailing technology giant.

Her announcement that up to 16,000 jobs will be cut by the end of 2014 comes after 34,000 workers lost their jobs in 2012 as part of restructuring. Whitman says HP will invest money in research and development, including 3D printing and cloud printing.

Bloomberg News' Michael Regan tells Here & Now's Jeremy Hobson about the company's business plan and what it needs to do to compete with its rivals.