Linked by Howard Fosdick on Fri 23rd Nov 2012 14:03 UTC
In the News Hard to believe, but articles are popping up at business websites claiming that venerable Hewlett-Packard may fail. In their most recent fiasco, HP wrote off a loss of $8.8 of their $11.1 US billion acquisition of Autonomy and have alleged fraud in the deal. Revenue is down 7% from a year ago and the stock has hit a 10-year low. The company is laying off 27K employees but that may not be enough. Some speculate HP might be broken up into parts with buy-outs involved. This article from last May offers a good in-depth analysis of how all these problems came to pass.
Permalink for comment 543107
To read all comments associated with this story, please click here.
RE[2]: Actual HP employee
by akro on Sat 24th Nov 2012 17:41 UTC in reply to "RE: Actual HP employee"
akro
Member since:
2005-07-06

I'm the first to agree that layoffs suck but unfortunately they are a fact of life. I will also be the first one to point out that HP board-members and CEO's have put this company in a horrible bind. The company can't continue as is and this is a single step. I have seen a lot of people leave or get laid off many folks took early retirement packages. If it wasn't for my very unique situation I would probably go. This is the reality of modern corporations where ceo's are judged on a 13week basis. Is it wrong? Absolutely! It bothers me tremendously and is probably the reason this will be the last publicly traded company I work for. I do however understand what they are doing and this is an attempt to right the ship, will it work? I don't know...

Reply Parent Score: 2