HP Increases Layoffs AGAIN To 55,000, And More Cuts Are Likely

[avaistheone1]

As HP cleaves itself in two, the company will also trim another 5,000 employees from its payroll.

And even that won't be the end of a massive multiyear layoff that grows bigger every few months, HP CEO Meg Whitman essentially told CNBC's Dan Farber on Monday.

HP first announced its layoffs plans in 2012. Back then, HP said it would cut 27,000. By June of this year, it had doubled the target, to 50,000, with 36,000 employees already gone.

On Monday, it bumped up the new layoff target, yet again, to 55,000. Even so, HP remains an enormous employer, with over 330,000 employees worldwide, and that means that when HP reorganizes itself, it will likely make even more cuts.

http://finance.yahoo.com/news/hp-increases-layoffs-again-55-154235046.html


Meg Whitman, the job creator!!

So glad she never became POTUS.

[onehandle]

1. She's a female Mitt Romney. A 'consultant' who downsizes and flips companies.

Scum of the Earth.

[MurrayDelph]

2. As a former DEC employee

it's deja vu all over again.

Digital Equipment Corporation, once the world's second-largest computer company, started selling off divisions and laying off people until they made the company small-enough to be bought by Compaq.

Compaq got absorbed by HP.

Now, HP is selling off the pieces of their company company so it can be absorbed.

[Initech]

3. And how much is Meg Whitman going to profit from this?

We need to ask this question: could it be that these companies are in the shitter financially because of these obscene CEO salaries? How can a company not meet profit goals but their CEO rakes in an annual salary of $55 - $100 million? That's not right!