CORVALLIS, Ore. -- Hewlett-Packard says no decision has been made on possible job cuts at its Corvallis campus, but local economic development officials are preparing for possible layoffs.

The Corvallis Gazette-Times, citing multiple anonymous sources, reported the company is planning to cut 300 to 400 jobs there.

But the Palo Alto, Calif.-based company said Wednesday that no decisions have been made.

HP did say in a statement to The Associated Press that its imaging and printing group, which operates at several HP sites including Corvallis, is "constantly looking at improving its business to better serve its customers."

And as part of a previously announced change in company strategy, the group will "continue to be proactive about shifting resources to maximize its business as necessary."

There are conflicting reports about the company's future in Corvallis.

City and state have not received formal notice of possible layoffs at HP. Yet, local economic development officials say they are getting some reports directly from HP employees that cuts are coming and changes are pending at the company.

The Corvallis-Benton Chamber Coalition met Wednesday with several other organizations Wednesday to lay plans for assistance programs for displaced workers.

Mysty Rusk, president of the coalition, said HP has not contacted them about any possible cuts or staffing changes as it has in the past.

Some employees came to the coalition this week for job hunting assistance and said the cuts are immediate, while other say it is a longer-term reorganization that may not result in cuts.

HP is the area's largest private employer and has kept the exact number of employees on site under wraps. Previous reports put the number at about 6,000 staff and 4,000 contractors.

The Corvallis campus is an important hub for HP's research and development. The company's presence has helped make the Corvallis area the top U.S. patent producer for the state along with Oregon State University.

"We are talking about some of the world's most brilliant minds," Rusk said.

The company has been trimming jobs over the past few years at numerous sites as it has changed strategy and seen rivals nibble at it's market share.

If HP does slash the estimated 300 and 400 jobs in Corvallis, it would be the largest cutback in Corvallis since 2005, when the company used buyout offers and early retirement incentives to subtract 700 jobs from its Corvallis payroll, the Gazette-Times reported.