“Hewlett-Packard Co. is expecting earnings to fall by more than 10 percent next year as CEO Meg Whitman struggles to fix a wide range of problems in a weakening economy,” The Associated Press reports. “Whitman delivered the disappointing forecast Wednesday at a meeting that the ailing Silicon Valley pioneer held for analysts and investors. The gathering gave Whitman the opportunity to persuade investors that she has come up with a compelling strategy for turning around HP one year after being named CEO.”
“She said she inherited a bloated company that hasn’t been innovating quickly enough in any of its divisions, which span from personal computers and printers to software and data storage,” AP reports. “The headaches are so severe that Whitman believes HP’s revenue growth might not accelerate again until 2015. ‘It is going to take longer to right this ship than any of us would like,’ Whitman said.”
AP reports, “In an effort to maintain its profits, HP is in the process of eliminating 29,000 jobs through employee buyouts, attrition and layoffs.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Lynn Weiler” for the heads up.]
“I am become death, the destroyer of worlds.”
– J. Robert Oppenheimer, Los Alamos, 1945
– Meg Whitman, Palo Alto, 2012
SIDAGTMBTTSH
One thing I notice:
HP has proliferated versions of their printers to the point of incomprehensibility. They market them intensely via all the usual printer sources, nearly obliterating the listings of all other printer companies. Lexmark has dropped out of the market (about time!) and Kodak has dropped out of the market (for the third time). AND HP was the first to market with AirPrint compatible printers for iOS devices.
AND YET: I don’t know of anyone who likes any of their recent printers. I hear nothing but complaints.
Conclusion: Great at selling. Suck at design. Sounds like Marketing-As-Management biznizz disease to me. Kind of sad.
I for one hope they overthrow their biznizz disease and return to being an entrepreneurial company again.
But that’s the way to make a great company! That’s how I built Apple into a powerhouse in the 90’s!
BWAHAHAHA!
Meg should abandon ship while it’s ‘listing’, retire and enjoy her gazillion dollars.
Ohhhhh, the economy is the reason you’re not doing so well????? This must also be Apple’s reason for not making much money.
Being that they’re in the same economy and all……..
Firstly, you can always tell if a woman is lying by determining if they are saying something. If they are, it’s a lie or wrong. And, “B”, no one cares what you think, NutMeg!
I still have a 14 year old HP 5SiMx monochrome printer that was built back when HP still made quality printers. You couldn’t give me one of their current printers! The new ones are lucky to last a couple of years. Their consumables are more and more expensive for fewer prints. If HP can’t get their computer-related stuff together, maybe Meg should scrap it and go back to HP’s roots, namely industrial test equipment, where they earned a well deserved great reputation. The founders of this once great company would roll in their graves if they could see the mess that it has evolved into.