Hewlett-Packard says it plans to cut another 25,000 to 30,000 jobs as it shrinks its services group – and restructures the company into separate entities.

It’s part of a plan to slash $2.7 billion in costs annually.

The layoffs amount to about 10 percent of the company’s workforce of 300,000 – and will primarily affect the Enterprise Services Group – which has struggled to grow profit margins – as the services business changes.