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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.
This is quite a surprise to me. Considering the company's respective markets, and the amount of products that they produce, I would have suspected that Compaq would have bought out HP, not the way it turned out. Seems to me as if Compaq produces a lot more products in general, does more research, has more of a market presence, etc..
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I admit I don't know much about the merger so feel free to take my comments with a grain of salt:
Right after all the reports about the massive money pit that is AOL and how it is hurting Time Warner why do these companies rush into mergers? And why right after the Enron and Global-Crossing fiascos is no one examining the benefits to the CEOs of the companies? While the Compaq-HP deal was announced last year there was alot of criticism about the benefits to both companies, where has it all gone? Was this a self defense merger? Were the two companies afraid that with out a merger they wouldn't be able to compete with other companies?
Well I suppose I can look foward to good printers being sold with lousy computers and less hope of HP ever having decent Mac support.
As I said, not knowing much about the deal and the two companies, feel free to ignore.
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So it doesn't matter how many jobs are lost or how much restructuring has to be done as long as the investor gets his 'bang for the buck'. In my own opinion, this is a bad idea. But I can see why the shareholders voted for the merger. They just did some simple calculations and figure 'we're gonna get ourselves some big bonuses, and pocket a whole lot of money if we go this route'.
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Anyone notice that hpq.com is active. (But it's just hp's home page right now.)
That is, firing trails the downturn and hiring trails the upturn. First things go to hell, then people get fired, then things get better, then people get hired.
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we see the obsolescence another one of those cute little topic icons on /. RIP, Compaq.
You know, maybe it would be nice for nostalgia's sake to post an article under the Digital logo once in a while. Of course, a small piece of DEC lives on in the Digital Networking Products Group. It's a real shame that Compaq cut off the DEC.com and Digital.com domains this year. DEC = 3 letters, Compaq = 6. More to type.
Maybe this signals the need for a mechanism to merge topics of old in the slashcode.
Time to go see if that VAX I booted 9 years ago is still heating, er, running...
Are you sure of that? To me, it looks like the two companies are almost identical. To list:
That's all I can think of off the top of my head, but I know there are many more parallels between the two. The only differences I can recall are HP's printing and networking hardware product lines, for which Compaq doesn't have equals.
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