HP to cut 27,000 jobs

[texan]

Not good news, no matter what "investors" think.

The company expects the layoffs, which amount to 8% of its worldwide workforce, to save $3 billion
to $3.5 billion by the end of 2014. The majority of those savings will be reinvested in research and
development, HP said.

Shares of HP (HPQ, Fortune 500) jumped by nearly 11% in after-hours trading as investors cheered the company's restructuring efforts and positive outlook.

 

[The Other Side]

Not good news, no matter what "investors" think.

The company expects the layoffs, which amount to 8% of its worldwide workforce, to save $3 billion
to $3.5 billion by the end of 2014. The majority of those savings will be reinvested in research and
development, HP said.

Shares of HP (HPQ, Fortune 500) jumped by nearly 11% in after-hours trading as investors cheered the company's restructuring efforts and positive outlook.

What did you think was going to happen once MEG WHITMAN took over the company? The woman who attempted to be governor of california, claiming she was a job creator, does the complete opposite thing once she takes control of a new company.

She will quickly OUTSOURCE all those jobs to other countries and the GOP will applaud her "sound financial management style".

Hopefully, you wont be one of them.

Peace

TOS

 

[Catatonic]

What did you think was going to happen once MEG WHITMAN took over the company? The woman who attempted to be governor of california, claiming she was a job creator, does the complete opposite thing once she takes control of a new company.

She will quickly OUTSOURCE all those jobs to other countries and the GOP will applaud her "sound financial management style".

Hopefully, you wont be one of them.

Peace

TOS

Since these cuts are worldwide, I think you meant "She will quickly OUTSOURCE all those jobs to other worlds ...".
Perhaps your world will get some of those jobs.

Tease

POS

 

[The Other Side]

Since these cuts are worldwide, I think you meant "She will quickly OUTSOURCE all those jobs to other worlds ...".
Perhaps your world will get some of those jobs.

Tease

POS

I didnt realize I had to break it down to 3rd grade level for you. IN CALIFORNIA, she has cut jobs and will ultimately outsource those jobs overseas.

Got it?

Peace

TOS

 

[Catatonic]

I didnt realize I had to break it down to 3rd grade level for you. IN CALIFORNIA, she has cut jobs and will ultimately outsource those jobs overseas.

Got it?

Peace

TOS

I had it to begin with and when I post something, I post what I meant to say.

You are otherworldly Dark Lord or can we say your name here?

Tease

POS

 

[UpstateNYUPSer(Ret)]

To put this in perspective the city that I live in has about 20K permanent residents (25K when college is in session) so basically every single person where I live (and several thousand in a nearby town) would be out of a job.

The fact that the stock is expected to go up shows the disconnect between investing and the implications of "cost management".

 

[bbsam]

Since these cuts are worldwide, I think you meant "She will quickly OUTSOURCE all those jobs to other worlds ...".
Perhaps your world will get some of those jobs.

Tease

POS

I notice that you ridicule TOS on this but don't really take issue with his summation. Or am I missing something?

 

[moreluck]

Lean & mean is survival in this climate!!

 

[UpstateNYUPSer(Ret)]

Lean & mean is survival in this climate!!

This would be the disconnect I referenced above.

 

[moreluck]

Or, we could be "connected"(your word) and sink the company totally and then there are no jobs for anybody.

Companies must be pared to survive.

 

[The Other Side]

Lean & mean is survival in this climate!!

How do you think BUSH took unemployment to 7.8^ from 4%?? HE too thought lean and mean would be great for the country.

Did you support it then?

Peace

TOS

 

[brett636]

To put this in perspective the city that I live in has about 20K permanent residents (25K when college is in session) so basically every single person where I live (and several thousand in a nearby town) would be out of a job.

The fact that the stock is expected to go up shows the disconnect between investing and the implications of "cost management".

HP is in the business to turn a profit, and if they don't then they do not exist. If these 27,000 jobs are standing in the way of future profits then they must go or every job in the company goes. Its just the harsh reality of business that you either lay off part of your workforce to remain competitive, or you lay off your entire workforce and cease to exist as market conditions change.

 

[brett636]

To put it another way, when UPS adds drivers are they doing so just for the sake of employing those drivers or are they doing so because they have an economic need for those drivers? The economic need for those 27,000 jobs is either fading away or is already gone, and its poor business sense to keep them around just for the sake of keeping people employed in positions that are not necessary.

 

[rod]

Meanwhile the CEO, other board members and upper management will get raises and bonusus that far exceed the salaries of those laid off.

 

[Catatonic]

I notice that you ridicule TOS on this but don't really take issue with his summation. Or am I missing something?

I think it sucks when anybody loses a job.
It creates stress and usually affects their family.
I wish no one had to lose their job.

But then I think death really sucks and we all die.

PS - I'm not ridiculing TOS ... just teasing him. He and you are the ones that take this stuff seriously, not me.

 

[brett636]

Meanwhile the CEO, other board members and upper management will get raises and bonusus that far exceed the salaries of those laid off.

It is said that the 27,000 job cuts represent 8% of HP's worldwide workforce. That means HP employs 337,500 people worldwide. The tough decision to cut those 27,000 jobs will save the remaining 310500 jobs. Would you rather see 27,000 people out of work or 337,500?

 

[rod]

It is said that the 27,000 job cuts represent 8% of HP's worldwide workforce. That means HP employs 337,500 people worldwide. The tough decision to cut those 27,000 jobs will save the remaining 310500 jobs. Would you rather see 27,000 people out of work or 337,500?

I think you missed my point------

After doing just a quick check on HP I learned that the previous CEO Leo Apotheker served only 11 months as CEO but walked away with (are you ready for this):


4 million dollar signing bonus
4.6 million dollar relocation assistance perk
1.6 million dollar yearly salary
7 million dollar severance pay
11 million dollars in stock.

Not bad for an 11 month job. Me thinks HP is trimming the budget at the wrong end like all big companies seem to do.

 

[bbsam]

HP is in the business to turn a profit, and if they don't then they do not exist. If these 27,000 jobs are standing in the way of future profits then they must go or every job in the company goes. Its just the harsh reality of business that you either lay off part of your workforce to remain competitive, or you lay off your entire workforce and cease to exist as market conditions change.

And this is why running a government is not like running a business and why Romney should lose.

 

[The Other Side]

HP is in the business to turn a profit, and if they don't then they do not exist. If these 27,000 jobs are standing in the way of future profits then they must go or every job in the company goes. Its just the harsh reality of business that you either lay off part of your workforce to remain competitive, or you lay off your entire workforce and cease to exist as market conditions change.

Well BRETT,

My complaint with BOTH you and moreluck is that you say that companies in the USA need to be "LEAN AND MEAN" to stay in business, and those companies need to survive by those actions, yet on the other hand, UNEMPLOYMENT skyrockets under BUSH while thousands of companies were trimming back as the country was defaulting on its citizens and NOW you both want to blame OBAMA?

Moreluck states that 8.1% is not good, but laying off more americans is?

You both cant have it both ways.

Either you stand up for the american worker or you stand up for the corporations who lay off american workers while profiting to the tune of millions.

As ROD pointed out, the former CEO "works" for 11 months and then takes an OUTRAGEOUS severage package putting the company into a position where the average "JOE" pays for it.

If a person believes that a corporation should shed american workers in order to make higher profits, then I have one piece of advice for you:

SHUT UP ABOUT UNEMPLOYMENT.

Peace

TOS

 

[Babagounj]

I demand that bhos step in and "save " this company just like he "saved" the auto industry.
He'll need those 27,000 votes come Nov.