HP To Cut Up To 16,000 More Jobs

[eridani]

Glad that twit Meg Whitman is not governor. As a retired chemist, I'm really gald that Agilent (analytical instruments) spun off from HP and is not being subjected to this bullshit.


http://www.manufacturing.net/news/2014/05/hp-to-cut-up-to-16000-more-jobs?et_cid=3956731&et_rid=54679148&location=top

Hewlett-Packard Co. said Thursday that it aims to cut another 11,000 to 16,000 jobs by October, bringing the total number of planned layoffs to a maximum of 50,000 and nearly doubling the largest payroll reduction ever for the 75-year-old technology giant.

HP's move revises upward a previous target of 34,000 job cuts. In May 2012, eight months after former eBay Inc. CEO Meg Whitman took the reins, HP unveiled the chief executive's initial restructuring plan, which called for a headcount reduction of 27,000.

When the program was first announced, the company had nearly 350,000 employees. As of October, it had 317,500.

Whitman said the extra cuts are being made because the company sees further opportunity to cut costs, not because of a forecast decline in demand.

"I would say I'm feeling more confident because we have seen a stabilization of revenue," she told analysts on a conference call. "The high single-digit declines are over."

[global1]

1. Is This Being Timed To Hit The Nov 2014 Job Numbers &....

impact the Nov election? Are other companies going to do the same?

[newfie11]

2. What country are these jobs going to? Nt

[cantbeserious]

3. CEO Job - Maximize Shareholder Wealth - Labor Reductions - Fastest Path To That Objective

eom