Hewlett-Packard to Take $150-Million Charge

Hewlett-Packard Co., the world’s No. 3 computer company, disclosed in a regulatory filing that it will take fiscal fourth-quarter charges of about $150 million for cost-cutting measures as sales falter. Hewlett-Packard said last month that the charges for the quarter ending Oct. 31 would total about $100 million. The company hasn’t said what actions it will take to cut costs, though a spokesman said Monday that they will probably include incentives to get employees to leave. HP is stepping up efforts to cut costs in the face of slumping demand for computer products, mostly in Asia, where economies are in recession for the first time in decades. Palo Alto-based HP is expected to earn 75 cents a diluted share in its fourth quarter, based on the average estimate of analysts surveyed by First Call Corp. It earned $806 million, or 75 cents, a year earlier. HP shares rose 81 cents to close at $50.81 on the New York Stock Exchange.