HP to lay off 5,000 more employees by the end of October 2014

HP continues to struggle financially in the face of overall sales declines for its PC lineup The company had already announced in May 2012 that it would lay off 27,000 employees between then and the end of October 2014. In September 2012, that number increased to 29,000 workers.

This week, the bad news continued for HP as a new filing with the US Securities and Exchange Commission shows that the company will be saying, "Good bye", to 5,000 more employees by October 2014. That will bring the total number of planned layoffs for the company to 34,000.

HP CEO Meg Whitman will send pink slips to even more of her workers than planned.

The SEC filing states that HP has already cut 24,600 of the 34,000 positions. The tiny silver lining is that HP CEO Meg Whitman stated a few months ago, "After 2014, we are not going to do another big restructuring." Hopefully, this will be the last revision of the company's employee reductions plans.

HP has launched some Android-based tablets in the past year, but their attempt to release a Chromebook notebook this fall suffered when the product was temporarily removed from store shelves due to reports of its charger overheating. HP is also rumored to be entering the smartphone market in the near future with six and seven inch Android "phablet" devices.

Source: SEC via Business Insider | Image via HP

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Xilo said,
Meanwhile the CEO and other top managers continue to get huge pay increases and big bonuses.

They should get a pay cut and a small bonus. give the lower+middle end the bigger bonuses+better pay.

for the stupid heads that talk nonsense this is part of the already 2012 approved plan to lay off 25k workers or so over a span of 5 years...

UnclePritchard said,
for the stupid heads that talk nonsense this is part of the already 2012 approved plan to lay off 25k workers or so over a span of 5 years...

Yes that was the plan, they increased the number another 5,000, and why THIS is the story.

Meg Whitman looks like Dwight from The Office. Anyhow, it's always sad when people lose their jobs. I think of their kids. It can really turn a family upside down.

Disclaimer: I'm an HP employee.

That statement is out of total ignorance. Mark Hurd made money from HP by cutting everything to the bone. He gutted R&D and did everything he could to get the stock price up. He also acquired multiple companies and ever did anything to integrate them. Hurd wasn't fired for being a man, that was just an excuse. He was fired because he was driving the company into the ground and managed to **** off every member of the board while doing it.

Of course that same board then hired Leo. Now THAT was a true cluster. He acquires a company for 10x what they are worth, then tries to spin off the hardware divisions, kills the Touchpad only 90 days after release, and proves to the world that he is a huge moron.

Meg inherited a sinking ship and has done a better job than anyone in the last decade to bail it out and get us back on the path. She started integrating all these acquisitions. EDS is finally integrated into the company (FIVE YEARS after Hurd bought it). I don't agree with everything she has done but I do think the ship has begun to turn towards the right direction.

Pretty much. I'm a virtualization architect/consultant. I can find another job. If I were to put blame on anyone for losing my job, it would be Mark and Leo. The royally screwed up this company.

WOW how have you not been given a warning by now? are the mods blind? Calling someone a 'bimbo'? Real mature.
on topic: sadly HP is in a deep dark place right now, hope their poor employees get a good job elsewhere.

Sgt Beavis said,
Pretty much. I'm a virtualization architect/consultant. I can find another job. If I were to put blame on anyone for losing my job, it would be Mark and Leo. The royally screwed up this company.

but Whitmans Bloomberg "most underachieving ceo" award doesn't mean anything???

HPs consumer products have been garbage recently. Who's to blame?

vcfan said,

but Whitmans Bloomberg "most underachieving ceo" award doesn't mean anything???

HPs consumer products have been garbage recently. Who's to blame?

Bloomberg's rating is based on stock value. Look at where most of the stock decline came from under Meg. The first was the huge slide caused by Leo's decisions to kill the TP and spin off those groups. The next big decline came when HP announced it would write off $8.8Billion from the Autonomy deal, another Leo based fiasco.

Last year I was awarded a few thousand shares of stock at just under $14. Yesterday the stock was above $28. Bloomberg's raw numbers tell you a story, but not the whole story..

As for HP consumer products... My momma said I shouldn't speak when I don't have nice things to say................. Let's just say that I know we have more work to do over there.

HP Enterprise products, however, are pretty kickass. BladeSystem is the best converged infrastructure on the market and it's only going to get better. I think Moonshot is also going to be huge. The new ConvergedSystem300 and 700 also look to be big winners for us. My only concern there is enterprise storage. There is a lot of upheaval in that part of the industry.

I wouldn't be worried about Enterprise Storage, been to Discover in Barcelona this month and managed to pick the brains of a few of the (ex)3Par engineers there, you guys have a winner in the mid-tier with the 7400/7450 (I'm an EVA customer)

Sgt Beavis said,
Disclaimer: I'm an HP employee.

That statement is out of total ignorance. Mark Hurd made money from HP by cutting everything to the bone. He gutted R&D and did everything he could to get the stock price up. He also acquired multiple companies and ever did anything to integrate them. Hurd wasn't fired for being a man, that was just an excuse. He was fired because he was driving the company into the ground and managed to **** off every member of the board while doing it.

Of course that same board then hired Leo. Now THAT was a true cluster. He acquires a company for 10x what they are worth, then tries to spin off the hardware divisions, kills the Touchpad only 90 days after release, and proves to the world that he is a huge moron.

Meg inherited a sinking ship and has done a better job than anyone in the last decade to bail it out and get us back on the path. She started integrating all these acquisitions. EDS is finally integrated into the company (FIVE YEARS after Hurd bought it). I don't agree with everything she has done but I do think the ship has begun to turn towards the right direction.


The head honchos need to take a serious pay cut and think about more than just there own bottom line. I also agree with your words.

I hate saying this, but it's getting to the point where the government needs to step in and prohibit these companies from letting people go before they reduce executive's salaries and bonuses.

A mass layoff should require many other measures to be done before it's allowed. Reduce executives salaries and bonuses, executives must work for at least 2 days in each department they want to fire people from, and probably a few other things.

Edited by Harrison H., Dec 31 2013, 4:55pm :

nesl247 said,
I hate saying this, but it's getting to the point where the government needs to step in and prohibit these companies from letting people go before they reduce executive's salaries and bonuses.

A mass layoff should require many other measures to be done before it's allowed. Reduce executives salaries and bonuses, executives must work for at least 2 days in each department they want to fire people from, and probably a few other things.


I agree, these head honcho's should take a serious pay cut and keep the workers employed. There just getting more greedy.

Smartsizing the goal-oriented organic growth incentives by enterprise-wide robust optimization of the headcount matrix using principle-centered leadership that seamlessly focuses on its core competencies.

I would like to see how much profit HP makes for each Chromebook sold. It can't be much more than a couple of dollars.

They last longer AND they are dirt cheap, there are next to no margins in the enterprise PC market.
Where I work, we pay our desktops less than €450 and that includes the Win OEM license AND a SSD for storage

Mr. Hand said,
I think HPs problem is their laptops are junk. I have one and it's just an all around poor design and quality.

Their inexpensive laptops are made of plastic but their expensive ones are pretty durable. I think it's the crapware that kills HP.

suprNOVA said,

Their inexpensive laptops are made of plastic but their expensive ones are pretty durable. I think it's the crapware that kills HP.

It was one of their pro convertible laptop with touch screen. I'd have to dig it out to find the model. I think it was about $1,500.

What planet did you say your from? right and your a fool if you believe that ever HP device I seen by other people never seem to last more them 3 years even the two my idiot sis law got.

They're not crap omg, start working in retail guys! understand the laptops and what type of people use them. all the consumers targeted by these companies could give a **** less about downloading superantispyware and other stuff to make their computers run faster. all people want is an e-mail checker.

you get wat you pay for most of the time. welcome to NA.

suprNOVA said,
They're not crap omg, start working in retail guys! understand the laptops and what type of people use them. all the consumers targeted by these companies could give a **** less about downloading superantispyware and other stuff to make their computers run faster. all people want is an e-mail checker.

you get wat you pay for most of the time. welcome to NA.


I work in retail, which is exactly why I won't buy HP to be honest with you. At least, not their laptops anyway.