Mass Layoffs Loom For HP

Mass Layoffs Loom For HP

malebolgia on 15 July 2005 - 15:59 · 8 comments & 665 views

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HP is expected to initiate a corporate restructuring within the next two weeks that could see as many as 15,000 layoffs. Analyst firm Sanford C. Bernstein & Co said that HP could slash between five and 10 per cent of its 150,000 employees. Other analysts are predicting similar figures.

The threat of mass layoffs has hung over the vendor ever since Mark Hurd took over as chief executive from Carly Fiorina last March. Hurd has repeatedly said that he sees cutting costs as his primary mission, but has been short on details. HP has realigned some of its senior management positions in recent weeks, hiring a former PalmOne executive to head up the systems group that makes desktop and laptop computers, as well as snatching a chief information officer from Dell.

News source: vnunet.com

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(1 reply) #1 trance on 15 Jul 2005 - 18:36

If they got rid of some of the useless deadweight of upper and middle management, they could afford to keep the actual useful workers.
(1 exec salary costing 5-10 real working employees).

#1.1 rogerroger on 15 Jul 2005 - 18:41

True! Myself and others were recently laid off (another company), but they kept the manager who made three times our salary and was not a revenue center like we were. Certainly doesn't make sense.

#2 Zerbs on 15 Jul 2005 - 21:05

it's sad, but many companies still don't understand that the employees ARE THE COMPANY! Sure, there's always some dead weight that could be cut or put to different use, but far too many companies focus on downsizing instead of rightsizing.

#3 The-VOICE on 15 Jul 2005 - 23:20

Companies can't afford to dump those overpaid executives. Golden parachutes anyone?

(1 reply) #4 Shining Arcanine on 16 Jul 2005 - 01:32

We can thank the democrats for thinking that increased taxes equal increased government revenues. Increased taxes lead to things like this, which decrease government revenues. If the taxes were lower, we'd probably be seeing more jobs being added, increasing government revenues and not the other way around.

#4.1 SquareSoft0 on 16 Jul 2005 - 09:15

Wow, what an utterly unrelated sentiment.

(1 reply) #5 yizuman on 16 Jul 2005 - 17:08

Most of those jobs will end up overseas (outsourced) for cheaper labor (i.e. India, China, etc.)

This sort of crap is putting more and more Americans as well as other workers from various countries out of work and into the poor house because some greedy turd wants to stuff more wad of money into their pants.

#5.1 rafter109 on 17 Jul 2005 - 13:42

You can thank the american consumer for that! Always wanting the cheapest sh!t they can get their hands on without thinking about what lies underneath. Most consumers don't care about where something is made or supported until after they make the purchase and then want to b!tch at the manufacturers and retailers like its their fault. But in the end they can only blame themselves because they voted with their wallets whether they realized the consequences of their actions or not. Accountability is totally lost in this country.

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Mass Layoffs Loom For HP

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