HP to fire 14,500
p2pnet.net News:- Fourteen thousand, five hundred Hewlett-Packard workers are to lose their jobs.
The news comes as Mark Hurd, the new ceo, tries to bring the company into line with competitors, says Bloomberg News, quoting a press release.
“The cuts represent 10 percent of the company’s workforce and are at the middle of the 10,000 to 25,000 analysts had been expecting, the Palo Alto, California-based company said today in a statement sent by Business Wire,” it says.
“Hurd, CEO since April, is wrestling with costs to compete with Dell Inc., which overtook Hewlett-Packard last year as the top seller of personal computers. Hewlett-Packard, with almost three times the employees of Dell, generated $529,000 per worker, compared with $891,000 from Dell. Since taking over, Hurd has hired senior executives and split management roles to boost profit.”
However, Hurd is also hiring, adds Bloomberg.
“Last week, he brought in Randall Mott as chief information officer from Dell and last month hired former PalmOne Inc. CEO Todd Bradley as head of PCs. Hurd added both to Hewlett-Packard’s executive committee as well as Cathy Lyons, who was promoted to chief marketing officer.”
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See:-
Bloomberg News – New Chief Hurd Slices Costs, July 19, 2005
July 19th, 2005 at 4:41 pm
Hewlett-Packard, with almost three times the employees of Dell, generated $529,000 per worker, compared with $891,000 from Dell.
Geez, no wonder why computer equipt. is so expensive. Those Greedy bast*rds.
July 19th, 2005 at 6:53 pm
“Under Hewlett-Packard’s severance agreement, Carly Fiorina will get US$14 million in cash, which is 2.5 times her base salary and target bonus. HP will also pay her US$5.88 million under its 2003-2004 long-term performance cash program, and US$1.5 million, which is the pro-rated amount of her awards under the 2004-2005 program. Her total severance package could total US$42 million.”
The money has to come from somewhere …
July 19th, 2005 at 7:45 pm
Since the P.S.A. is selling out workers, they ought to do the same to the C.E.O’s
July 20th, 2005 at 2:58 pm
I agree wholeheartidly. All these CEO’sfrom all the companies downsizing are still keeping their jobs with their high salaries, they should be the ones to go and let the company be employee run, instead of hiring more top guns at outrageous salaries. If the CEO’s would take less money, more regular jobs could be saved, using that money. This country can’t afford to lose that many jobs.
July 20th, 2005 at 9:30 pm
It makes me wonder if anyone actually realizes the impact of that statement! HP workers generated $529,000 each. FIVE HUNDRED TWENTY-NINE THOUSAND DOLLARS.
Yet, even after generating that much money, ten percent of them now face lay-offs! A man’s job should never be treated to cavalierly! What do you imagine each of the workers being laid-off make per year on the average? $50,000? HP stands to save $725 Million. That is probably as much as the few at the top make.
I believe HP has lost site of the value of the human being. (A residual, no doubt, of their long-time association with Billy and the Boyz). I have regretted, for the past two years, that I bought an HP when I scrapped my e-Machine. I’ve had nothing but problems with this HP. (In fairness, I suspect the fault lies more with the OS than with the hardware hurriedly thrown together).
Lately, however, I have found that the tech-reps at HP have been extremely helpful and most considerate! HP needs to KEEP the human part of their business concepts and scrap the sh*tty products they foist on the market.
Don’t fire fourteen thousand people who depend on their jobs in order to live! Improve the products and back away from piracy on the high cyber-seas! As long as they continue to charge so much for INK, they may continue to expect unrelenting drops in sales.