HP to cut 24,600 jobs in EDS integration

[sabra]

Source: MSNBC/AP

About 7.5 percent of workforce to be eliminated; nearly half from the U.S.


SAN FRANCISCO - Hewlett-Packard Co. says it plans to cut 24,600 jobs, or about 7.5 percent of its work force, over the next three years. This major restructuring is coming as HP integrates its newly acquired technology services company Electronic Data Systems Corp.

Most of the cuts will come from within EDS's ranks, and nearly half will hit jobs in the U.S., HP said Monday after the markets closed.

Palo Alto, California-based HP bought EDS for $13.9 billion in a bid to challenge IBM Corp. for more of the lucrative, long-term business of helping companies manage their computing infrastructure.

Read more: http://www.msnbc.msn.com/id/26725492/

[truthisfreedom]

1. OMFG.

After-market announcement on the biggest drop day since 9-11? They've been saving this for a bad news day to make it look less harsh! Crap!

[jannyk]

2. Together with Ebay announcing 15000+ layoffs, and the financial layoffs

coming down the pike, the SF Bay Area is going to look like it did after the dot-com bust.

[truthisfreedom]

4. No, no no no no. eBay is NOT cutting 15,000 jobs. They're cutting 1500 of their 15,000 workforce.

http://blog.wired.com/business/2008/09/barrons-ebays-b.html

[ComtesseDeSpair]

3. Oh, Grand.

I hope my job isn't one of the EDS jobs eliminated. There really is no such thing as job security anymore. Glad I'm moving to a cheaper apartment later this month.

[jaybeat]

5. Wonderfull Google-Ads irony

At the bottom of this thread, the ad that I saw was from OfficeDepot. It read, "Hot deals on Brother products."

Of course, not the same business as EDS and the part of HP that will be effected, but still. Ouch.

[TommyO]

6. Carly Fiorina's ghost lives on at HP

[daggahead]

7. Thanks a lot Mother F*ckers ...

One of those jobs is (was) mine.

F*CK YOU HP! F*CK YOU!

[girl gone mad]

8. That will hurt N. Dallas.

EDS is one of their biggest employers.