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07/17/2005

HP (Should have had Cobuyitaphobia Earlier)

Newsjock Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Jul-15-05 10:59 AM
Original message
Huge HP layoff (10,000-25,000) expected any day

http://www.mercurynews.com/mld/mercurynews/business/121...

By Therese Poletti
Mercury News

Hewlett-Packard could announce the layoff of as many as 10,000 to 25,000 employees next week as part of a plan to restructure the Palo Alto technology giant, according to Wall Street analysts.

Such a shake-up has been anticipated since HP Chief Executive Mark Hurd replaced ousted CEO Carly Fiorina in April. Some HP workers have taken to calling the expected reorganization ``the Big One.''

... On Thursday, Cindy Shaw, an analyst at Moors & Cabot, issued a report citing a Silicon Valley insider who said HP may announce a management reorganization as early as Monday that could include widely expected layoffs. Shaw's report was the first to predict job cuts could be as high as 25,000. HP employs 9,000 people in the Bay Area and 150,000 people worldwide.

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(from Democratic Underground)

15:27 Posted in Cobuyitaphobia , Hewlett Packard | Permalink | Comments (0) | Email this | Tags: Cobuyitaphobia