p2pnet.net News:- Carly Fiorina has gone to pastures new and the new Hewlett-Packard ceo Mark Hurd says although HP’s second-quarter financial results aren’t to be sniffed at, he’s still still "several months" away from, “producing a plan to revitalize the slumping company or spelling out whether big cost-cutting measures are in the offing”.

In fact, "There’s no quick fix to achieving the kind of performance that I think this company is capable of," Business Week quotes him saying.

HP posted a 9% rise in quarterly profit and saw higher revenues across all its businesses, but "Everyone knows that the company has a tough road ahead," Reuters has analyst Richard Chu saying.

Hurd, "ruled out a quick breakup of HP, something that many analysts and investors continue to call for," says the story.

"I’m not working on spinning off anything, at least at this moment," Hurd stated, according to the report.

Last month, "Hurd slashed 1,900 jobs in the printing unit, costing $71 million," Bloomberg News says, pointing out that Hurd said more reductions are coming, and, "Hewlett-Packard signaled larger layoffs by setting aside $100 million this quarter as part of a companywide review of every business".

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See:-
pastures new - Fiorina’s ‘Tumble from the Top’, p2pnet, February 10, 2005
Business Week - Good News, but No HP "Quick Fix", May 18, 2005
Reuters - Hewlett-Packard’s profit allays concerns, May 17, 2005
Bloomberg News - Hewlett-Packard Rises; Hurd Promises to Boost Profit, May 18, 2005

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