Print 8 comment(s) - last by flyingpants1.. on Jan 3 at 12:29 AM

It has already cut 24,600 employees as of October 2013

Hewlett-Packard has increased its layoff count by another 5,000, bringing the grand total to 34,000.

According to a new report from Business Insider, HP plans to cut 34,000 employees total by October 2014. As of October 2013, HP had already completed 24,600 of this total, leaving 9,400 left to go.

This is a boost from previous layoff projections. In May 2012, HP said it would only cut 27,000 employees. Then, in HP's last quarterly earnings reports filed with the U.S. Securities and Exchange Commission (SEC), it bumped that number up to 29,000.

Now, in the company's annual report filed this week, that number jumped another 5,000 to 34,000 total. 

HP currently has about 331,800 employees. 

HP said the extra cuts are "due to continued market and business pressures."


While HP hasn't had the easiest of times with the decline of the PC industry and all, it did manage to surprise analysts recently with a revenue boost in Q4

According to HP, its fourth quarter revenue for 2013 was $29.1 billion -- beating analyst forecasts of $27.9 billion. HP also maintained its full-year earnings forecast. The hike in revenue was due to growth in its enterprise group, which provides businesses with servers, storage and networking products. The company said enterprise sales increased 2 percent in the fourth quarter compared to the year-ago quarter. It rose 12 percent compared with the third quarter.

The fact that the PC industry continues to decline in the wake of mobile device releases like smartphones, tablets and convertibles is just one reason analysts didn't have high expectations for HP's fourth quarter earnings. However, the company reported a smaller-than-expected drop in PC sales for the quarter. 

HP CEO Meg Whitman said in October that the new game plan is "multiple operating systems, multiple architectures and multiple form factors," adding that HP is "moving quickly to produce the devices that customers want." 

Source: Business Insider

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How to save your job
By bobcpg on 12/31/2013 10:23:40 AM , Rating: 3
Just tell HP that you'll leave once you finish installing a HP driver...... Job for Life!

RE: How to save your job
By bobcpg on 12/31/2013 12:50:02 PM , Rating: 1
Didn't actually think my comment was that bad :(

Funny how -1 comments actually stick out more than any other comments.

RE: How to save your job
By Orchunter on 12/31/2013 1:49:16 PM , Rating: 2
It is not the content in your comment. It is just the just the time and place. You do realize that we are talking about 5000 more American dreams being shattered because some higher up decision maker couldn't get his/her sh!t together and deliver a good,profitable product. And to know this on a new years eve sucks even more.

RE: How to save your job
By bobcpg on 12/31/2013 2:25:38 PM , Rating: 4
I hear ya and understand that point.

Now to "dreams being shattered". That seems a little much. If they found their dream job, they can do it again.

RE: How to save your job
By Argon18 on 12/31/2013 3:06:25 PM , Rating: 2
"dreams being shattered"? Dramatic much? Good grief, I've been laid off twice (once was from HP) and my "dreams" certainly weren't "shattered". You apply for a new job and move on. Not a big deal.

HP is a bloated company, they're drunk on mergers and acquisitions. They've already laid off all of their senior technical people, the gurus that came from DEC, Compaq, Tandem, etc. They have no innovation left. All they can do is buy-out smaller companies, and outsource everything to India and China. It is sad what HP has become.

RE: How to save your job
By flyingpants1 on 1/3/2014 12:29:10 AM , Rating: 2
Nope it was an awesome comment, you can all STFU.

"It looks like the iPhone 4 might be their Vista, and I'm okay with that." -- Microsoft COO Kevin Turner

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