HP to Cut 24,600 Jobs

[Unspeaked]

HP to cut 24,600 jobs; takes $1.7 bln EDS charge

SAN FRANCISCO, Sept 15 (Reuters) - Hewlett-Packard Co plans to cut 7.5 percent of its work force, or 24,600 jobs, in order to wring efficiencies from its recent acquisition of Electronic Data Systems Corp, the company said on Monday.

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[mkrishnan]

I'll be really curious to see if HP can manage to not screw this one up.

 

[rdowns]

Integrating a company is very difficult, especially one the size of EDS. HP didn't exactly cover themselves in glory when acquiring Compaq.

 

[PlaceofDis]

ugh. things are just a mess today.
cutting that many jobs is never a good thing.

 

[Scepticalscribe]

ugh. things are just a mess today.
cutting that many jobs is never a good thing.

Oh yes, an ughleee mess today indeed. And yes, cutting that many jobs is never a good thing, neither economically nor socially. What does this tell us about the health of the IT and general computer world? No wonder Apple and others have diversified.
Cheers

 

[bigandy]

HP didn't exactly cover themselves in glory when acquiring Compaq.

Aren't they still clearing up that mess?

 

[rdowns]

Oh yes, an ughleee mess today indeed. And yes, cutting that many jobs is never a good thing, neither economically nor socially. What does this tell us about the health of the IT and general computer world? No wonder Apple and others have diversified.
Cheers

Yes, it's ugly. I don't think the job cuts reflect on the state of the tech industry, in fact, many analysts are recommending tech. The cuts are the result of HP acquiring EDS and trying to cut out redundancies and save money. Happens all the time when companies acquire others.

 

[PlaceofDis]

Yes, it's ugly. I don't think the job cuts reflect on the state of the tech industry, in fact, many analysts are recommending tech. The cuts are the result of HP acquiring EDS and trying to cut out redundancies and save money. Happens all the time when companies acquire others.

i understand why they're doing it and all that.
it makes sense for them as a company, but it also hurts socially/economically since there is enough problems there as it is with jobs .

no it certainly doesn't reflect bad on tech industry, where things are still moving nicely and looking good.

 

[rdowns]

The article also states that this will occur over 3 years so at least all those people won't be thrown out of work all at once.