- Credits
- 23,473
HP has just announced a "multi-year productivity initiative" that will see 27,000 employees leave the company: eight percent of HP's workforce, which numbered 349,600 in 2011. The goal of the restructuring is to generate savings between $3.0 and $3.5 billion for the company, money that will then be reinvested in HP. The company mentioned its three major areas of focus going forward, saying it will invest in cloud, big data, and security, and is trimming elsewhere to direct more resources toward those three. The layoffs are scheduled to run through the end of the company's fiscal year 2014, and some portion of the reduction will be from employees accepting an early retirement plan.
We'd heard before that HP was considering a layoff of this magnitude, and it certainly appears the company's having to take drastic steps to begin moving in the right direction. It comes after two poor quarters for HP, including a just-reported 31 percent decline in earnings in the most recent period.
The Verge
Hopefully, the workers can find new jobs. I never knew HP was doing so badly.
I wonder if they use their 3 billion dollar cost savings to make better products since most of their Desktop and Laptop computers are boring looking, and it be cool if they make Tablets which they dumped since they are not making ther HP Touch Pad or WebOS anymore.
We'd heard before that HP was considering a layoff of this magnitude, and it certainly appears the company's having to take drastic steps to begin moving in the right direction. It comes after two poor quarters for HP, including a just-reported 31 percent decline in earnings in the most recent period.
The Verge
Hopefully, the workers can find new jobs. I never knew HP was doing so badly.
I wonder if they use their 3 billion dollar cost savings to make better products since most of their Desktop and Laptop computers are boring looking, and it be cool if they make Tablets which they dumped since they are not making ther HP Touch Pad or WebOS anymore.
