Hewlett-Packard Co. on Tuesday notified its shareholders of a virtually zero sign of rebound in sales, as it said 6,400 more job cuts, or 2 percent of the company’s total work force will be executed over the next year.

Out of the 24,600 job cuts that lie in the offing, this represents the most massive of all.

The lay off is carried out as a part of HP’s huge acquisition of technology services provider Electronic Data Systems, and will be largely done from its product businesses.

“The new cuts will be targeted actions to structurally change and improve the effectiveness of our product businesses,” said Cathie Lesja, HP’s chief financial officer.

HP, with a headcount of 321,000 employees as of October 31, 2008, made the announcements alongside the release of its quarter results for Q2 09.

Second-quarter net income fell to $1.72 billion, or 70 cents a share, from $2.06 billion, or 80 cents, a year earlier, the company said.

Annual revenue is expected to drop 4 percent to 5 percent, the lower end of a forecast range given in February, said  Chief Executive Officer Mark Hurd as he based the forecast on the assumption that the economy won’t improve in coming months.

 “It’s roughly going to be the same the rest of the year,” added Hurd.

Second-quarter net income fell to $1.72 billion, or 70 cents a share, from $2.06 billion, or 80 cents, a year earlier, the company said.

Excluding some costs, profit was 86 cents a share in the period, which ended in April. Sales dropped 3.2 percent to $27.4 billion.

Hewlett-Packard, based in Palo Alto, California, fell $1.88 to $34.70 in extended trading yesterday.