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Posted on 10/14/2016 6:43:39 AM PDT by DoodleDawg
HP Inc said it expects to cut about 3,000 to 4,000 jobs over the next three years, as the maker of printers and personal computers continues to struggle with a subdued market, sending its shares down 1.3 percent in extended trading.
HP, which houses the hardware business of former Hewlett-Packard Co, said in February it would accelerate its restructuring program and slash around 3,000 jobs by the end of fiscal 2016.
HP Chief Executive Dion Weisler said the market continued to be volatile, facing pressures and uncertainties.
"Our core markets are challenged and macro economic conditions are in flux right now," Weisler said.
HP expects adjusted profit for fiscal 2017 to be $1.55-$1.65 per share. Analysts on average had expected $1.61 per share, according to Thomson Reuters I/B/E/S
(Excerpt) Read more at reuters.com ...
So when President Trump slashes business taxes and cuts regulations, what will prevent corporations from using the savings for stock buybacks, dividends, or acquiring other companies and laying more people off rather than using it to create more jobs?
An addendum to this story, HP has planned to shift full time employees into contract labor positions.
Lower pay, paltry benefits/if any, no vacation, no severance if laid off, no seniority.
Scoundrels!
Ah, the Obamaeconomy continues.
A business’s main objective is to make profit for its shareholders. The purpose of a business is not to create jobs.
Look at the 80s. Reagan dropped taxes. There were many mergers. Numbers of job went way up. Governmentk, revenues went way up.
And how many of these 4K Americans will be replaced with cheap foreign labor either here or overseas?
What used to be a great company is now most irrelevant and speeding toward obsolescences. That’s due in large part to its upper management..like Carly.
Their crap printers will get even worse.
So then why do people say that cutting taxes and regulations create jobs? It creates more profit, which may or may not translate into more jobs.
That was also forty years ago. Before technology made it possible to offshore services and manufacturing. It's a different economy now.
My guess is that most of them will be.
You really think it was a lot different under Bush or Clinton? Or would be any different under Trump?
?
No jobs will be replaced, just more will be let go.
Hp Inc won’t last a year.
iPads, surface, and Byod have killed laptops/PCs.
Email, cloud sharing of PDFs have killed printing.
Heck, even boarding passes aren’t printed!
That being said, Hewlett Patel can go suck it with the H-1b madness and there are plenty of cheap labor express people on both sides selling the American IT worker down the Ganges.
Thanks To Carly
Fine by me. HP can go belly up. Good riddance.
Carly to the rescue.. /s
Trump has been addressing this all year. You missed it?
He is looking to renegotiate trade deals so that there is a level playing field. He is looking to reduce taxation so that Corporations can bring trillions back to the U. S. without losing it. He is also talking about increasing tariffs so that it isn’t as enticing to move off-shore.
As for electronic improvements, it’s time to shame companies that move off-shore. Let the corporations deal with Americans who don’t appreciate being attacked just because they want a job.
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