HP to cut jobs

US technology giant Hewlett-Packard says it will cut 24 600 jobs worldwide over the next three years as part of its integration with computer services firm Electronic Data Systems, reports RTE Business.

World-leading computer maker HP bought Texas-based business services outsourcing titan EDS as part of a $13.9 billion deal that aimed to create a global powerhouse in computer services to compete against IBM.

HP says the workforce reduction aims to streamline the combined company's services businesses and once complete is expected to result in annual cost savings of approximately $1.8 billion.

US-based pharmaceutical giant Bristol-Myers Squibb has signed a 10-year outsourcing deal worth US$550 million with Accenture, says ZDnet.

The deal extends and expands a four-year outsourcing agreement the two companies signed for application maintenance and accounts payable services.

Paul von Autenried, VP and CIO of Bristol-Myers Squibb, said in a statement the deal would enable the company to boost productivity and support strategic transformation to a next-generation BioPharma company.

Assay Depot has released the world's first full service online outsourcing marketplace for pharmaceutical research services, says Business Wire.

Kevin Lustig, CEO of Assay Depot, says: "The most successful drug discovery organisations of the future will be those that maintain core expertise in select areas while outsourcing most other research activities.

Through assaydepot.com, scientists can synthesise drug-like compounds, clone DNA, create miniaturised protein arrays or carry out hundreds of the most critical biological, chemical and pharmacological assays done in a typical five to seven-year drug discovery campaign.