HP didn't just announce 5,000 new layoffs.
This is a part of the 4,000 layoffs that were originally announced two years ago. The company increased its original estimate of 4,000 by 500 to 1,000.
In addition, some of these layoffs have already taken place.
While this is not good, it's not as bad as it sounds. So take a deep breath and read up a little more on it.