Wall Street Journal: Like many other technology companies, Hewlett-Packard is in the process of making layoffs and other cost cuts. In the quarter ended 30 April, HP’s selling, general and administrative expenses dropped 13% from the same period last year and its research-and-development budget fell by almost 20%.
But when it comes to advanced research—far-reaching projects that might not turn into profits for years—HP says it’s still investing. Next week, the company’s long-term research division, HP Labs, plans to announce an expanded program of grants to university researchers to pursue a variety of projects. HP won’t disclose the amount of money it’s spending on the grants, but says the budget has increased 30% since last year when the program started.
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