When it comes to Hewlett-Packard and layoffs, nothing shocks me any more. So, it’s tempting to react with a big fat yawn to the news the company has increased the estimate of its latest round of layoffs to 29,000 from 27,000.
Employees would, I guess, have somewhat mixed feelings about this. During the last earnings call, executives revealed that they had been surprised when a larger-than-expected number of employees were accepting the company’s offer of early retirement.
Seems they can’t find the door fast enough.
All this said, the big number continues to astound me. As I wrote last Spring, before HP announced the latest restructuring this spring, the company had announced layoffs of 93,105.
“Could they top 120,000?” I wondered. If the latest number holds, then yes, yes they can! A staggering number of a company that remains relatively financially healthy and profitable over that time. Nobody is holding a gun to HP’s head making them do this to avoid insolvency.
What is less clear is whether continuing to embrace a non-stop policy of constant churn — hire, fire, repeat! — is going to lead this company back from the edge.
10 comments
Hewlett-Packard Layoffs Climb to 29000; Aiming For 120000 Over Past Decade – San Jose Mercury News | Got Shit Canned?
[...] Hewlett-Packard Layoffs Climb to 29000; Aiming For 120000 Over Past DecadeSan Jose Mercury NewsWhen it comes to Hewlett-Packard and layoffs, nothing shocks me any more. So, it's tempting to react with a big fat yawn to the news the company has increased the estimate of its latest round of layoffs to 29,000 from 27,000. Employees would, I guess …HP adds to layoff tally, now plans 29000 job cutsReutersHP Plans 2000 More LayoffsWall Street JournalHP ups layoff plan, will now cut 29000 jobsNBCNews.com (blog)Bizjournals.com -DailyFinanceall 370 news articles » [...]
Sep 10, 2012
Sicilian Mafia
If Meg Whitman would have been California’s Governor_ you would be reading about how California laid off twice that number of people_ this is all becuase of Meg Whitman_ start with getting rid of her – and save thousands of peoples jobs_ it’s not like all she does is wait for the biggest politician name to come into town and buys a ticket to be in the loop_ “Nice to be in the loop!” – nice to know commercials don’t get you elected_ and money can’t buy love and votes – not in California.
Sep 10, 2012
HP Plans 2000 More Layoffs – Wall Street Journal | Got Shit Canned?
[...] filing Monday. Accordingly, the company raised its expected restructuring costs to $3.7 …Hewlett-Packard Layoffs Climb to 29000; Aiming For 120000 Over Past DecadeSan Jose Mercury NewsHP adds to layoff tally, now plans 29000 job cutsReutersMore layoffs coming at [...]
Sep 10, 2012
Vivvy
Let the chips fall where they may.
Sep 11, 2012
Dividend Stocks – The Dividend Daily » 6 Signs Of Unsustainable Dividend Yields
[...] estimates of employee layoffs by a couple of thousand of workers to 29,000 individuals in total. One news source recently estimated that HP has now laid off around 120,000 workers over the past decade. The stated [...]
Oct 8, 2012
Innovation Isn’t Tied to Size, but to Operating Rules : INNOVATING
[...] HP. She directed for 29,000 worker cuts, that would move a series of HP layoffs to 120,000 over a past decade. And progressing this month, she common skeleton for revenues and increase to decrease for another [...]
Oct 31, 2012
Innovation Isn’t Tied to Size, but to Operating Rules | Business Studies Online
[...] HP. She aimed for 29,000 employee cuts, which would bring the number of HP layoffs to 120,000 over the past decade. And earlier this month, she shared plans for revenues and profits to decline for another year to [...]
Oct 31, 2012
News › Innovation Isn’t Tied to Size, but to Operating Rules
[...] HP. She aimed for 29,000 employee cuts, which would bring the number of HP layoffs to 120,000 over the past decade. And earlier this month, she shared plans for revenues and profits to decline for another year to [...]
Oct 31, 2012
Innovation Isn’t Tied to Size, but to Operating Rules | Web Development, Search Engine Optimization, Social Media Marketing Guru
[...] HP. She aimed for 29,000 employee cuts, which would bring the number of HP layoffs to 120,000 over the past decade. And earlier this month, she shared plans for revenues and profits to decline for another year to [...]
Oct 31, 2012
KQED Interviews Sara Horowitz – founder of the Freelancers Union
[...] emphasized that freelance work is the wave of the future. When mass layoffs happen, freelance work offer an alternative to collecting unemployment and waiting for the next [...]
Jan 6, 2013