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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.

2 of 184 comments (clear)

  1. 15,000 Layoffs you say. by nobodyman · · Score: 2, Offtopic

    I really love it when newspeople mention how the economic downturn is over, yet in the same breath mention that company abc is laying off thousands of worker.

    With 15,000 being layed off, it seems the matter of this merger being a "good thing" depends entirely on who you ask.

  2. Mixing ingredients isn't always good by div_2n · · Score: 0, Offtopic

    I like chili. I like chocolate chip cookies. That doesn't mean I would like the two of them together.

    I like Compaq. I like HP (mostly). I do not remain convinced and have neither seen nor heard any evidence that leads me to believe this is a good thing for consumers and employees. Thus far, the only people I see benefiting completely are those on top getting nice compensation.

    I am not trolling, I really would like someone to explain why this is a good thing. Maybe I missed it somewhere.