Meg Whitman is aiming to be Hewlett-Packard's Lou Gerstner.
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Gerstner was the CEO of International Business Machine (NYSE: IBM) from 1993 until his retirement in 2002, and is widely credited for IBM's turnaround.
How did he save IBM from going out of business and reverse its fortunes?
Well, among other things Gerstner made the difficult decision to lay off more than 100,000 employees shortly after his arrival.
And now Meg Whitman, CEO of Hewlett-Packard (NYSE: HPQ), has taken a page from IBM's playbook.
On Wednesday, Hewlett-Packard announced it would lay off 27,000 employees, or roughly 8% of its worldwide workforce, over the next two years.
HP hopes the layoffs will save the company $3 billion to $3.5 billion and it plans to reinvest those savings in research and development, innovation, and the overall quality and design of products.