HP Expands Job Cuts By 2,000

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HP is expanding job cuts from the previously announced 27,000 employees to 29,000 employees. Considering HP posted the largest loss in company history on her watch, maybe the CEO could forfeit her millions in bonuses to save a few of those jobs?

In a regulatory filing Monday, the computer and printer maker said it will cut 29,000 jobs by October 2014, up from the 27,000 cuts it announced in May. The company also says it expects to record charges of $3.7 billion, mainly for the job cuts. That's up from the May estimate of $3.5 billion.
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Cut her bonus? Obviously you'll never be a CEO with that attitude.
 
Considering the amount of damage the previous CEO did, I think it might take some time before HP could be considered healthy and profitably again. The last guy tried to sell HP's hardware division to focus on software.

If, like me, you said "What software?", I think you can see what the problem was.
 
ballistic90 said:
Considering the amount of damage the previous CEO did, I think it might take some time before HP could be considered healthy and profitably again. The last guy tried to sell HP's hardware division to focus on software.

If, like me, you said "What software?", I think you can see what the problem was.
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Lol, indeed.
 
ballistic90 said:
If, like me, you said "What software?", I think you can see what the problem was.
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I just figured they were going to start writing crappy universal printer drivers for other brands of printers and it made a little piece of something inside me die. Then I remembered that HP also makes data warehousing and business intelligence software and I was all like, "Yaay!" until I started thinking about how it would make businesses a lot dumber and data marts would be more like WalMarts.

I'm glad they kept the consumer hardware. :)
 
Like I said in another post way back, HP is gonna be one of them companies next to Dell where they're gonna file for bankruptcy in 2013. This is merely the beginning unfortunately :(.
 
No executives should be getting bonuses of any kind when the company is losing money, period. That money should be going to save jobs, period.
 
No way.

It is costing an additional 200,000,000. To fire 2000 people? So with manpower costs it is averaging hp a cost of 100,000 per person fired in this last batch.

I bet someone is getting a nice fat check for handling that payroll boondokle.
 
We all know that every executive at every company is immune from the results of their deisions. They are safe from layoffs and know it. Its the low people on the pole that always pay the price.
 
matt9669 said:
No executives should be getting bonuses of any kind when the company is losing money, period. That money should be going to save jobs, period.
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Wow, how about if a company is losing money, executives don't get bonuses and the money gets reinvested. There are times when a company does need to terminate employees.
 
darkstarcow said:
Wow, how about if a company is losing money, executives don't get bonuses and the money gets reinvested. There are times when a company does need to terminate employees.
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It should be the ones making the shitty decisions that get cut, but that never happens.
 
I know that companies laying off workers sucks for the workers, but they need a new printer driver team. The current drivers are terrible.
 
matt9669 said:
No executives should be getting bonuses of any kind when the company is losing money, period. That money should be going to save jobs, period.
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Sadly, things aren't happening in this way in real world.

For example, one friend of mine is just a regional manager responsible for about 40 stores in 3 state/provinces here. He closed down 7 locations in last 2 months laying off more than 200 jobs. The company paid severace package to those full times and had to buy out a few lease contracts or partially, now those remaining stores may temporarily generate less revenue overall, but gain disposable cash a lot better, which would lead to new investment in the future.

The guy delivered performance /efficiency for the company, they're paying him almost triple in this year, and my friend said, that his direct boss got paid much more.
 
Funny title to use...might as well say HP is 'expanding' it's 'reduction'.

I think HP should drop it's consumer line altogether. The only thing it makes worth a shit are servers that came from the Compaq line they bought years ago.
 
Nothing HP makes is worth a shit, nor has it ever been.

My sister in law works for HP and I've told her this...she wasn't too amused with me.
 
Steve said:
HP is expanding job cuts from the previously announced 27,000 employees to 29,000 employees. Considering HP posted the largest loss in company history on her watch, maybe the CEO could forfeit her millions in bonuses to save a few of those jobs?
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That's not the kind of expansion we need in the current financial climate.
 
Grimlaking said:
No way.

It is costing an additional 200,000,000. To fire 2000 people? So with manpower costs it is averaging hp a cost of 100,000 per person fired in this last batch.

I bet someone is getting a nice fat check for handling that payroll boondokle.
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If an employee is paid 100K then the cost to the company can easily be twice that, between burden and unemployment tax/healthcare contributions/retirement contributions the cost of having employees goes up dramtically.

So these could have ben 50K employees with all burden and taxes adding up to 100K
 
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