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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.'"
They used to make really cool, quality stuff (Agilent Technologies anyone?) Now they're reduced to selling disposable printers and ink that costs more than vintage Dom. Gee thanks, Carly.
got rid of ALL the employees!
I suggest they start at the top!
1. Build a product people want to buy. Do not shit on your customers. (HP is now failing here)
2. Support your products to a reasonable degree. (HP is failing here too)
3. Treat employees like valued portion of the business. (Huge HP failure here)
There you have it. The SROP (standard republican operating procedure) is now being followed at HP. HP is on a death spiral into garbage land. A few key wealthy republicans are profiting massively, and working people are getting screwed.
Apparently, that is how capitalism is supposed to work.
Shareholders get wealthy at the expense of the rest of the economy.
They teach this stuff in school these days. So it must be true.
Lost at C:>. Found at C.
All of my calculators used to be HP, all of my bench equipment was HP or Tektronix. But these days, I no longer own an ink-jet printer, so I don't buy printer ink, so HP has nothing for me.
There are many brands that no longer represent their heritage: Philips, Zenith, Bell Labs, Kodak...
It's sad, but it's life, HP hasen't been a "high tech" company foe several years, they have been a "re-brander" of Chinese consumer products.
If you want news from today, you have to come back tomorrow.
It proves that if you can give a corporation tax breaks and throw off the shackles of regulation, they will do better and want to hire more people. Oh...wait.
Take the cheese to sickbay, the doctor should see it as soon as possible - B'Elanna Torres, "Learning Curve"
Their CEOs don't believe they have a future. Better for them to loot and pillage before jumping off the boat.
Two of my imaginary friends reproduced once
Shocking.
HP is screwed up. Who actually likes their products anymore that has a clue? Even their printers are nothing special anymore. That company has no market. The only time I see HP stuff as at big box stores where they're competing for the least informed computer purchases.
Does the smart money buy HP? When was the last time it did?... Exactly. HP is a dying company.
Current management needs to get the axe and the company needs to be restructured there after.
I've decided to stop wasting my time responding to AC trolls/sockpuppets... so if you want a response from me... login.
MBA1: We should fire all the workers, look how much money we would save. MBA2: Brilliant!!
Being an Indian, I understand the frustration when support goes out to some dude in India who barely speaks English. I have been there myself, not only that, I have been asked how I made it to Canada.
Nonetheless, those that do make the H1B cut are not the same that answer those phone calls. H1B may be fresh grads, however most have engineering degrees, at the start of which they had to compete against 500,000 applicants for a under 10000 seats. Further, seats in Computer engineering which are valued more so than others are probably around 1000.
Furthermore, there is a contrast in fee, in US, a student might have to bail out if he cannot afford the education, so not only do you have to be smart, you have to be rich, contrasting that to peanuts, the competition gets very very tough back in India.
So joke all you want, those that do make it to US are rather smart and hard working.
I'm not saying they are not exploited, they are. The solution is simple, the employer has to prove, H1B is needed as local talent cannot be found, if thats the case, do not tie H1B to an employer, let the employee roam free. You will see a drastic cut in H1B and abuse of new immigrants.
in the last few decades, there has been mass mind-reprogramming that seems to convince people that 'profit above all else, to the exclusion of all else' is what american companies are supposed to be about.
but go back to our grandfather's days and you would find social responsibility (which was hard fought for, during the union days). companies DID care and they DID shoulder the burden during hard times, because they saw value in the INVESTMENT in their work force! it was common for people to work at the same company for 20, 30 even 40 years!
find anyone like that today. I dare you. if you find someone working 20 yrs at the same place, its extremely rare.
this is now how it used to be. and don't accept that this was always how it was and how its meant to be. that's brainwashing by the new capitalists who are no better than white collar criminals, these days.
--
"It is now safe to switch off your computer."
... and the good performers, innovators, and managers as well. You are left with those who just need a job because they have a questionable resume.
People forget companies do not create great products. PEOPLE DO! I can't make the best widget in the world without the best engineers. ID Software needed John Carmack to make doom back in the 486 days before 3d cards. It was not the brand image that created it. It was the employee.
HP cares more about financially engineering its stock price to rise each quarter and then sell it when it can't maximize than to innovate.
Fiona really did a job on that company. Most of the innovators went to Agilent systems which makes more money than to try to monopolize the pc market which is what Fiona wanted by buying compaq and just focusing on this. Bad bed and the Bill and Hewlett way is gone. As good employers were fired if they did not leave already as senior folks cost money etc.
http://saveie6.com/