Wednesday, May 23, 2012

Layoff Watch: Top Firm Axing 27,000 Workers




While Facebook employees are celebrating, workers at beleaguered Hewlett-Packard (HPQ) are wondering whether or not they'll still have a job a few weeks from now. The Palo Alto, Calif.-based tech behemoth is said to be considering cutting upwards of 25,000 jobs, as reported by Bloomberg on Thursday.

The layoffs could be announced next Wednesday, when HP reports quarterly results. Either way, investors will be looking for more information on new CEO Meg Whitman's restructuring plans. Whitman is in the unenviable position of trying to turn HP around. But while cuts may be necessary, in the long run they won't do much to curtail HP's declining revenues.

HP needs a bold makeover, and perhaps even deeper cuts than the 25,000 layoffs it is reportedly considering (the company has 349,600 employees worldwide). But it just can't decide what it wants to be….

No comments:

Post a Comment