The technology giant is working with management consulting firm McKinsey & Co. to draw up the job-cuts proposals, according to the reports, which are said to have come from people briefed on the plans.

The speculated cuts are said to include 10,000 to 15,000 staff from HP’s enterprise services group, which sells a range of information-technology services and which has been hit by a fall in profits.

The cuts follow the arrival of new chief executive and former eBay boss Meg Whitman in September. Whitman replaced Leo Apotheker, who presided over a 40% fall in the company’s share price and who was ousted after shareholders rejected his turnaround plans.

HP’s first quarter results for 2012 showed a 7% fall in profits year-on-year, and a 32% fall in earnings per share.

Whitman said of the results: "We are taking the necessary steps to improve execution, increase effectiveness and capitalize on emerging opportunities to reassert HP's technology leadership."