HP/Compaq Merger Official Today

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.

Comments

HP + COMPAQ IBM

[Shivetya]

They may have sold the investors on HP+COMPAQ=IBM but previous experience shows that X + COMPAQ X seems more true.

I would be surprised if it only cost 15 thousand jobs as they have a lot of overlap in products. Consider also that most of this overlap isn't exactly in a profitable area (PC and PC peripheals)

I think its best HP bought Compaq and not the other away around. The key to the merger will be how much control HP maintains over the process...