HP may cut up to 16,000 more jobs as results disappoint

Comments (8)
ppp9988 wrote:

Another incompetent CEO. Axing jobs is not a solution. Coming up with cool product ideas, innovation and mostly putting them into action is the rule of the game. Job destruction is always the solution for incompetent and overpaid CEOs.
Time to ax the CEO and use people with more brain that understand
what will sell, where to sell and how to make profits.
Look at the compensation of these guys and gals. Unfit and overpaid. Why ? Because shareholders allow it. Thanks god I am not a shareholder of this shop. I would be ashamed of a CEO that axes jobs.
The magic in this game is always that they think they can perform the same work with less employees. IF so, why did they hire them in the first place ? Which fools decision was that ?

May 22, 2014 10:46pm EDT  --  Report as abuse
CAlifornia2US wrote:

Whitman would have bankrupted California had she won election Very much hyped as CEO, she is a failure. I guess being a woman has something to do with that hype, otherwise she lacks a plan, direction, or coherent message. Even a second grader can remove jobs and finally get profits on the books. she lacks a vision.

May 22, 2014 12:32am EDT  --  Report as abuse
tmc wrote:

SHORT!

May 23, 2014 6:42am EDT  --  Report as abuse
JL4 wrote:

Corporate America at its finest here. Profits down? Cut jobs. Innovation in the tank? No new products to keep up with a rapidly changing market? Cut more jobs. It never occurred to anyone to “Cut Meg”? Of course not. She’s a “job creator”, she’s a “Captain of Industry”.

I have this image of 16,000 employees walking the plank.

ppp9988 has it right.

May 23, 2014 7:08am EDT  --  Report as abuse
GLOOOB wrote:

I’m just glad she’s the head of HP and not the Gov of CA, though it’s unlikely she would have been any worse then the current Gov.

When Brown was Gov this first time sales taxes in the state were 6%, they’re now 9% to pay for the pensions of those “world class” public safety employees…I’m just waiting for a civil war so I can get my revenge.

May 23, 2014 8:09am EDT  --  Report as abuse
Overcast451 wrote:

“have blamed recent lackluster performances on a backlash against American companies in China, in the wake of U.S. spying allegations.”

Naaa, it’s the fact that native Chinese companies are now able to really compete, and some are even starting to break into the global markets.

They sell the same goods – they make for companies like HP; at a fraction of the cost.

Outsourcing benefiting your corporations, huh?

But this might end up saving consumers a lot of money – companies like Wal-Mart and such have almost all of their good made in China now; so many Chinese companies are finally ‘getting it’ and just making similar products and marketing them on their own.

And yeah, like ppp9988 wrote: you guys need to come up with some new and innovative stuff. The ‘cheap’ run of the mill PC’s, Tablets, and Laptops are going to be made in China, by Chinese companies at much less cost to the consumer. You need something else… probably wouldn’t hurt to cut back on the ‘goodies’ you give your execs either.

May 23, 2014 8:38am EDT  --  Report as abuse
ineeditbad wrote:

Yep, Job Market is improving….5 1/2 years of lies.

May 23, 2014 10:29am EDT  --  Report as abuse
CosmicDebris wrote:

I am a longtime employee of one of HP’s competitors, so I have no great interest in cheering them on. But my company is, and has been for years, doing exactly the same thing.

It’s pretty simple. The corporate board membership game is the primary driver behind stories like this. Med Whitman is a Carly Fiorini clone – one of these over-hyped, under-talented business-government-business revolving door suits, stroking their own eminence, drifting between vanity political runs and cushy corporate board memberships.

Corporate board memberships are one of the most toxic, 1%-stroking cabals of the business world. Everyone sits on everyone else’s boards, they vote each other raises and cheer on quarter-to-quarter stock price growth, rewarding CEO’s for helping to make the other board members wealthier. They don’t care how it happens – if cutting jobs hoists the board members’ portfolios, cut away !!! You pay no penalty for being utterly clueless about your industry (hey, you can maybe run for Governor someday!)…you pay no penalty for trashing the careers of thousands of dedicated workers…you pay no penalty for fouling brands and corporate reputations that took decades to establish. It’s a quarter-to-quarter race, and if your golfing buddies whine about returns on their multi-million dollar portfolios, welp, there go another 10,000 careers.

Carly almost bankrupted HP with her vainglorious buffoonery, and walked off with an 8 figure golden parachute…and then had the straightfaced gall to try to convince California voters she knew “how to create jobs”, because she was formerly a bigshot CEO.

These people are vile…and they’re laughing at the rest of us.

May 23, 2014 11:38am EDT  --  Report as abuse
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