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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."


[SOURCE: ABC News]

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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Another Christmas goes by ...
By drycrust3 on 12/31/2013 11:55:18 AM , Rating: 2
quote:
adding that HP is "moving quickly to produce the devices that customers want."

YES! Finally some sense! There is an olde adage: The customer is always right. Well, the customer isn't always right, but they are the one with the money we want.
I think for most of those who have been made redundant there is a feeling of frustration because they weren't the ones who made the bad calls, they could see the market changing and their product line remaining more or less static.
I do hope that "moving quickly" means some decent smartphones in stores before Christmas 2014.




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