Posted on 10/06/2014 12:53:17 PM PDT by SeekAndFind
As HP cleaves itself in two, the company will also trim another 5,000 employees from its payroll.
And even that won't be the end of a massive multiyear layoff that grows bigger every few months, HP CEO Meg Whitman essentially told CNBC's Dan Farber on Monday.
HP first announced its layoffs plans in 2012. Back then, HP said it would cut 27,000. By June of this year, it had doubled the target, to 50,000, with 36,000 employees already gone.
On Monday, it bumped up the new layoff target, yet again, to 55,000. Even so, HP remains an enormous employer, with over 330,000 employees worldwide, and that means that when HP reorganizes itself, it will likely make even more cuts.
This is what Whitman said about it on CNBC's "Squawk on the Street."
Whitman: I think for 2015 in terms of this restructuring, we are done. Now when you split companies apart, typically, and we have looked at all of the other ones that have been done, often there is again realignment of the workforce, but we'll see how it goes.
...
Faber: Well, it sounds to me, from that answer, that conceivably there are going to be more job cuts to come for these two companies.
Whitman: We have to organize ourselves for these companies to win in the market. Now, the truth is, we're a lot more efficient than we were, you know, three years ago, as you can see. But we have to set these companies up to win, that is our mission.
This news must be frustrating for HP employees, but it can't be a surprise. HP has been in a near-constant state of restructuring since 2008 when it bought EDS for $13.9 billion (then-CEO Mark Hurd's signature deal), which doubled its workforce to about 400,000.
(Excerpt) Read more at finance.yahoo.com ...
12 c for business
I have a 12c too. Definitely the right tool for financial calculations. I just think the 15c is a more impressive machine overall. Not to say the 12c is a slouch, it’s not easy doing math when the significant digits are separated by many decimal points. It’s just cool having a calculator do operations on complex numbers (the 15c will give you a square root of -1) and matrices.
55,000 people lost their jobs so some big stock holders can make money. A company needs people to make things. I figure that HP is planning on going out of business.
41CX and modded to run at double or normal speed. Speed is switchable by holding a magnet to the base of it.
These (anything with maroon tabs)has origins from Compaq. A closer inspection will show “Made in China’.
But there are plenty of jobs for so called “tech” workers from India, China, Pakistan, Africa and Islamic enemy nations, etc. The economy is doing wonderfully! The Democrats/Republicans even have these people working in vital defense industries and even in the US Government. Peace and happiness and prosperity abound for everyone ... (if you’re not a white American that is.)
Two great machines.
Name another 30 year old technology tool that is still the best available???? The 12c was introduced in 1981
They were “da bomb” back in the eighties.
So was Sony, once.
Now neither are.
Laurel resting seldom ends well for technology companies.
HP needs David Packard (its cofounder) back as chair. When they took over Compaq it was when HP started downhill.
Yes, her actions directly put HP on the disaster that continues today.... Just like Jimmy Carter left the presidency in 1980 yet we are still dealing with a Terrorist Iran!
Carly’s time at the helm destroyed a once great american innovation firm, and sadly I doubt it will ever recover.
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