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HP/Compaq Merger Official Today

Posted by ryuzaki0 on from the seems-to-have-happened dept.

Ankou writes: "Today (May 6th, 2002) marks the first day of the Hewlett Packard and Compaq merger. The finalized buyout of Compaq is expected to be done today and are expected to be working together "as a combined entity" by tomorrow. This also means a new stock symbol will replace the old HWP to the new symbol HPQ. Behind the hype this merger will cost, according resources at CNN on this article, a total loss of 15,000 more jobs with over 150,000 following the next two years. The same article details more information regarding the new merger and the recent events which have lead to today." Update: 05/06 15:03 GMT by T : Note: that job-loss figure is off; the 15,000 jobs projected to be cut are from a total of 150,000 between the two companies.

6 of 184 comments (clear)

  1. New Name... by swordboy · · Score: 2, Funny

    From now on, you will refer to them collectively as "Hewlett Paqard".

    Change is good!

    --

    Life is the leading cause of death in America.
  2. good news for geeks! by tps12 · · Score: 5, Funny
    I'd like to be the first to say, I'm really excited about the possibilities of this merger. Historically, especially in the computer industry, we have seen that mergers of two good companies often create new companies that are "greater than the sum of their constituent parts." And this is no exception.

    Compaq has a stellar track record, from their sleek designs to their top-of-the-line reliability and support. Their support of the old standby DEC technology has truly been a boon to IT and engineering houses. As I type this, I am using a svelte Compaq tower with a P4 chugging away. This baby is sweet, and runs Linux with nary a hitch.

    As for HP, they have demonstrated time and again that they can reign supreme in the realms of laser printing and server mainframes. Their own Unix OS was a champion in its heydey, and with their recent efforts in the Linux world, we have nothing but good things to look forward to from them.

    In short, in a few years we will be looking back at this as the beginning of a new era for enterprise technology. Let's hope they keep raising the bar.

    --

    Karma: Good (despite my invention of the Karma: sig)
    1. Re:good news for geeks! by looieprima · · Score: 5, Funny

      Thanks for sharing, Carly.

  3. Re:Content error by Decimal · · Score: 3, Funny

    Not that 165,000 jobs will be cut....

    Nah. Those jobs won't be lost until Fiorna drives the company into the ground.

    I'd estimate one, perhaps two years.

    --

    Remember "Bring 'em on"? *sigh
  4. Re:correction by davmct · · Score: 2, Funny

    I think they meant that HPQ will be going bankrupt in two years time, hence the 150K employees getting sacked. But don't worry, I believe Carla and Cappy will be well-imbursed for their troubles.

  5. Prophetic symbol by crow · · Score: 3, Funny

    When a company goes into bankruptcy, a 'Q' gets appended to the end of the ticker symbol. HPQ. Hmmm.