HP Makes More Money, Cuts 16,000 Jobs

jfruh (300774) writes "Good news for HP: Profits are up by 18% over the previous year! Bad news for HP: A lot of those profits are from post-Windows XP PC upgrades, and company revenue actually dipped 1%. The solution, according to CEO Meg Whitman, is "continuous improvement in our cost structure," which means firing thousands of people. At the end of the next round of layoffs, the company will have shed 50,000 employees since 2012." New submitter Deveauxes (3664417) links to a similar story from CNN's news service, according to which "HP said the latest layoffs would come across all its business units and geographic locations, and would generate $1 billion in annual savings beyond the $3.5 to $4 billion projected from the previously announced cuts. 'No company likes to decrease the work force, and we recognize that this is difficult for employees,' CEO Meg Whitman said in a conference call with analysts. 'I think everyone understands the turnaround we're in.'"

Comments

20,000 H1Bs for the country vs 320 million citizen

[raymorris]

There are a total of 20,000 H1Bs for the entire country, compared to 320 million citizens, so ...

Re:Can I have a pinch of salt with that

[drkstr1]

Don't let them get to you. The only people I see complaining about H1Bs "taking all the jobs," are a bunch of out of touch old fogies who refuse to keep their skills up to date and relevant. (Note: there are still a lot of good peeps in that age group, and this comment was not directed at them). You are better than them, so just forget all that noise and come join us, in a new age, a new reality of instantaneous sharing of knowledge and ideas from across the globe, my brother in code. Come rejoice with us, and share your gift, whatever that gift may be. Share it far and share it wide and share it for the betterment of all mankind.