“Hewlett-Packard Co. is expected to announce deep cuts in its workforce Wednesday afternoon when the world’s largest personal computer and printer maker is scheduled to release its latest quarterly results,” The Associated Press reports. “The payroll purge could lay off 25,000 to 35,000 workers, based on recent media reports that quoted unnamed people familiar with HP’s plans… CEO Meg Whitman has made it clear that she believes the company needs to trim its expenses to offset declining revenue and free up more money to pour into research and development.”
“HP currently employs nearly 350,000 people. If the recent reports pan out, that means HP is looking to jettison about 7 percent to 10 percent of its workforce,” AP reports. “The financial pressure has been building on HP since the company replaced cost-cutting specialist Mark Hurd as its CEO amid questions about his relationship with a former actress who worked for the company as a contractor. Since then, HP has had trouble responding to the threat posed to personal computers and printers by the rising popularity of smartphones and tablet computers such as Apple Inc.’s iPad.”
Read more in the full article here.
MacDailyNews Take: Good luck to all those affected at a once-great (long ago) company. May you someday find a company where you can really “invent.”