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HP will layoff around10% of the company, according to two reports. Hewlett-Packard (NYSE:HPQ) is said to be readying 'massive' job cuts, focusing on expensive consulting staff. In IT Blogwatch, bloggers fear for their careers.
By Richi Jennings: Your humble blogwatcher curated these bloggy bits for your entertainment. Not to mention: Need to Calm Down? Summon a Calming Manatee!..
Patrick Thibodeau reports the reports:
HP is reportedly considering another layoff of equal number -- and possibly as many as 30,000. ... It employs about 350,000 worldwide. ... [S]ome cutbacks were expected...[HP] plans to combine its personal systems and printer divisions. ... Whitman has signaled the need for cost cutting...earlier this year, she said the company was "too complex and too slow," and...there was "still much more that we can do to streamline."
Julie Bort was first to report the rumor:
One source at HP claims the job cuts are going to be massive. ... [T]ension inside the company is running high and so is the rumor mill. ... Our source said HP wants to trim its workforce by 10%-15%. ... However, that would include an early retirement program [and] include attrition. ... That number sounds high and we don't expect HP to promise it next week. ... HP's outsourcing units could be particularly hit hard. ... [Staff] at the top of the salary charts -- are the most vulnerable.
And Aaron Ricadela adds reports from his own sources:
[HP] is considering cutting as many as...8 percent of its workforce, to reduce costs and help the company contend with ebbing demand...people briefed on the plans said. ... Meg Whitman...is seeking to reverse the growth slump that led to the ouster of...Leo Apotheker. The company’s PC sales are dropping...and it has been slow to adapt to the shift toward cloud computing. ... The overall reduction and additional cost savings...could [total] billions of dollars.
But Bob McMillan, like everyone else, got nothing official out of HP:
HP spokesman Michael Thacker declined to comment on...“rumor and speculation.” ... [HP is] a storied — but extremely troubled — company [that's] been losing money and embarrassing itself with flip-flops...and marketplace duds such as the...TouchPad..
TL;DR? Try Edward Berridge's succinct precis:
The maker of jolly expensive printer ink...is firing an army of workers in a bid to pull its nadgers out of the fire.
Meanwhile, Dan Primack tells us about the compensation package:
All laid off employees will receive a free Touchpad and "Whitman for governor" bumper sticker.
Richi Jennings is an independent analyst/consultant, specializing in blogging, email, and security. He's the creator and main author of Computerworld's IT Blogwatch, for which he has won ASBPE and Neal awards. He also writes The Long View for IDG Enterprise. A cross-functional IT geek since 1985, you can read Richi's full profile and disclosure of his industry affiliations.