Posted on 09/22/2015 9:53:48 AM PDT by jimbo123
It's hard to run for president when your name is synonymous with massive layoffs.
The No. 1 criticism lofted at Carly Fiorina is that she oversaw the disastrous 2002 Compaq merger, leading to some 30,000 layoffs at Hewlett-Packard during her tenure as CEO.
Fiorina has tried to spin the layoffs, saying they were the result of bad timing that coincided with the bursting of the tech bubble in 2000.
She has also noted -- correctly — that despite bruising layoffs, she hired more people than she fired. HP and Compaq had a combined 148,100 employees just before she was hired in 1999, and 150,000 by the time she was fired in 2005.
Still, along the way, the cuts were painful.
2000: Voluntary Buyouts
Fiorina was named CEO in July 1999 and eight months later, in March 2000, HP offered 2,500 employees a voluntary buyout package. 1,300 employees accepted the offer.
2001: Furloughs and Job Cuts
In 2001, Fiorina asked employees to volunteer to take furloughs, hoping that the unpaid time off would stave off further job cuts. HP said the 80,000 who volunteered to take the furloughs saved the company $130 million. But many of those people ended up getting laid off anyway.
Later in 2001, HP laid off 7,500 employees. The tech bubble had burst sending many countries into a recession. People weren't buying as many computers, and HP needed to cut costs to save money.
2002 and 2003: More furloughs and job cuts
In 2002, HP asked employees to once again take furloughs over the Christmas break.
(Excerpt) Read more at money.cnn.com ...
Does her helping the Mullahs mitigate this? [/s]
HP dumped her. And she walked away with $21 mil!!
Your past will continue to haunt you and will catch up with you, Carly. You cannot avoid it - unless, unless, unless your name is Hillary Clinton.
Regardless of the reasons - this would be a HUGE target on her back during a hypothetical matchup between her and any of the Democrats, even more so than Romney’s capital firm closing down businesses was.
Joe Sixpack doesn’t necessarily “get” all the intricacies of capital fund streamlining. He DOES, however, get “she laid off 30,000 workers.”
Maybe she has the juice to lay off 3 million GOVERNMENT employees if elected.
HP is (and was) a bloated conglomeration.
I work in IT. IBM, Microsoft, HP, DELL, they all need to reshuffle...why? because the “good” IT workers have left there, and gone to smaller companies where they don’t have to put up with the big company mentality.
The only way to get those folks back is to change the corporate culture....At Microsoft, Sataya is trying, but he needs to fire those folks who are sabotaging change. (I know some of those folks).
Same old Musical Chairs routine in Corporate America. These CEOs, failed and otherwise, go on to sit on another company's Board of Directors, who, wink-wink-nudge-nudge agree to these golden parachutes. They know that someday vote their will be reciprocated in the future.
30,000? Big deal. Robert Palmer laid-off 130,000 and was rewarded with a “going out of business” check for $54M.
I suppose the only good thing here is that Carly has experience laying off people and the Federal Government is sorely in need of massive layoffs.
So what’s the problem? She’s a product of the “new business school”.
Gutting out US companies, and selling the bones off to foreign business interests is their stock and trade. This is nothing new. An entire generation (30 plus years) have made their entire careers by looting companies for fun and profit.
The only reason that they’re whining now is that they are running out of companies to loot, and they keep getting blowback over trying to import their slave labor from the third world into the US.
The only thing keeping these people afloat is the fed and their magical non-stop printing press, cranking out endless dollars for the “new business class” to gamble away with, at the expense of everyone else.
I wish that I could hire the feds as my own oersonal “stickup man”. But then again, I don’t have that kind of money.
So who is responsible for last week’s HP announcement of 30K more layoffs?
The layoffs during Fiorina’s tenure at HP....”they were the result of bad timing”.........
If you analyze that statement it is true. The “bad timing” was due to her being selected as the CEO and her “time” in office was indeed a disaster for HP.
Start with the Microsoft asshat that gave the 3D printer to the hoax briefcase bomber “kid”.
That didn’t answer the question about who is responsible for the current 30K layoff announcement.
How many employees have lost their jobs under Obama? Isn’t that the same thing?
Layoffs happen and lots happened in 2002.
This was DIFFERENT!
The first evil part was first HP Executives actively planned to move jobs to India.
I saw it happen even though they tried to keep it hidden.
Second was USA workers were required to train their replacements.
Third, personnel records were doctored by HR and mid level management as justification to terminate employees.
HP, Intel , Microsoft I know for sure all did this.
This is also what got Craig Barrett bumped out of CEO before the employees showed up with tar and feathers.
And people think Apple is Evil. Microsoft begat MSNBC. Take a look at what Bill Gates supports.
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