HP Increases Job Cut Forecasts to 29,000
September 11, 2012 2:40 AM
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The previous forecast was 27,000
Hewlett-Packard (HP) upped its number of job cuts to 29,000 globally -- 2,000 more than the computer maker previously forecasted.
Back in May, HP
predicted that it would cut 27,000 jobs
around the world in its new restructuring plan dubbed the "2012 Plan." Now, HP has adjusted that figure and plans to cut 29,000 jobs.
The latest figure was reported in HP's 10-Q quarterly filing with the U.S. Securities and Exchange Commission (SEC). HP plans on saving $3 to $3.5 billion by eliminating these jobs, which it will put toward Research and Development (R&D). As of July 2012, HP had already cut 3,800 jobs.
The filing noted that HP predicts charges of about $3.7 billion through the end of fiscal year 2014. About $3.3 billion of this will be the job cuts while another $400 million will be related to other areas like data center consolidation.
HP has had a pretty terrible time as of late. It had a terrible experience with former CEO Leo Apotheker, who was appointed in October 2010. Apotheker led the company to several missed financial goals and even tried to sell HP's core personal computer business.
killed off its webOS mobile operating system and its TouchPad tablets
last year due to overproduction, sloppy execution and slow hardware releases.
Just last month, HP
suffered an $8.9 billion USD loss
. However, analysts were impressed by the new restructuring plan by new CEO Meg Whitman.
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RE: HP's new iMac must have been a flop
9/11/2012 3:53:47 PM
"Fine - PC OEMs make really cheap PCs - shoddy but cheap. That's OK. But why oh why can't they be more original and just plain better at design? Why is PC culture philistine culture? As an outsider it mystifies me, why don't you guys rise up and demand better stuff?"
Actually, in the real world, the top quality computer manufacturer, laptop and desktop is Lenovo, 2nd Asus, 3rd Apple. This is regarding failure rates. Lenovo is by far the best in the business.
Yes, there are cheap models out there. Not everyone needs a high end pc to log in a few times a week to check email. Any 5 year old PC or bottom of the line new one will do that just fine.
I know you dont understand it but you can get anything from a high end powerhouse that will smoke any Mac to bits, to a $300 useable PC, to a self built masterpiece. Its called options, and its a good thing.
RE: HP's new iMac must have been a flop
9/11/2012 7:16:36 PM
PC buyer's has one thing Apple don't have options. Which is why HP is having problems. PC buyers could either buy from OEMs or build there own. In Apple case what you see is what you get.
"I mean, if you wanna break down someone's door, why don't you start with AT&T, for God sakes? They make your amazing phone unusable as a phone!" -- Jon Stewart on Apple and the iPhone
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