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.
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RE: Actual HP employee
by darknexus on Sat 24th Nov 2012 14:04 UTC in reply to "Actual HP employee"
darknexus
Member since:
2008-07-15

Honestly the layoff coming are necessary. We have bulked up because of the acquisitions and we can't support the company at the size we are today, it does suck though for 29K people.


I just love the blase attitude people have when it's not them getting the kick. I bet you wouldn't be nearly so calm about it if you were the one getting the boot, especially after it comes from idiotic decisions made at the board level. Hmm, I notice none of them are suffering as a result, they'd rather push it on to the mortals rather than pay for their own errors in judgement. Fascinating how corporate culture works, eh?
P.S. Yes, I have been employed by a large corporation before, so I'm not talking out of my ass. I've seen it up close.

Reply Parent Score: 4

RE[2]: Actual HP employee
by akro on Sat 24th Nov 2012 17:41 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