RSSHP Lays Off 10 Percent of Workforce
By Ed Oswald | Published July 19, 2005, 11:53 AM
As expected, HP will lay off 10 percent of its workforce in an effort to cut costs in the IT, sales and service divisions. The moves could save the company some $1.9 billion per year. Analysts are expecting as many as 25,000 job cuts as new HP CEO Mark Hurd moves to reorganize the company, so more layoffs could be on the way.
"I think this will make us simpler, nimbler and quicker." Hurd told analysts in a conference call. He had been pushing internally to make these cuts, as HP's costs are higher than rivals such as Dell. Any savings from the layoffs will be reinvested into the company, and Hurd said some pink slips might add to the company's bottom line and boost profit margins.
You people seem so Hell-bent on "jobs" and "wages. It's nothing more than Communist rhetoric and excessive U.S. wages held back lucrative trade deals for decades. You fail to look at the big picture.
We have a chance to globalize without Socialist restrictions like labor organization pressure and regulations, that's the reason why CEOs, not union leaders, make great Presidents.
Like it or not, a global market system is much more important than over-paying jobs for people who decline to work as hard as people from other countries who have less.
This sense of "Entitlement" in America makes me sick. You are no more entitled to high wages or even jobs in general than I am a place in the Baseball Hall of Fame.
Don't blame successful business people for your failures, be thankful for what God gave you and quit whining, the world has changed, "boo-hoo!". There are no guarantees in life.
Joseph Ciallos - CFO, YASS Software
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|Once a great company, torpedoed by a crass salesman.
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|It's funny how someone thinks something like capitalism is great until it's them that is the fodder that is redundant.
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|Hey Adamdawg, you must have an MBA... you're a fantastic business analyst! You should work for Merrill.
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|Hey, who cares that 25,000 people are going to be left jobless. At least the company will make more money (as if they don't already make enough)!
I hate this world.
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|HP: Hilariously Pathetic.
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