HP Layoffs Looming: Company Said To Be Eliminating Up To 30,000 Jobs

SAN FRANCISCO (AP) — Published reports say Hewlett-Packard is poised to eliminate up to 30,000 jobs to help offset dwindling demand for personal computers as more people connect to the Internet on smartphones and tablets.

Bloomberg News says HP is mulling 25,000 job cuts. All Things D, a technology blog, estimates the purge will jettison 30,000 jobs. Both reports cited unnamed people familiar with HP's plans.

Hewlett-Packard Co. declined to comment Thursday.

The Palo Alto, California, company ended its last fiscal year with nearly 350,000 employees. Based on that, HP is considering a 7 to 9 percent decrease in its workforce.

Analysts estimate a payroll reduction of that size would save HP more than $1 billion annually.

The job cuts could be announced next Wednesday, when HP is scheduled to report its quarterly earnings.

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Comments

[tincada]

05:55 PM on 05/24/2012

Wait a minute! Stop the presses. A 1%er, the job creators, laying off 30,000 people? Say it ain't so Willard. Uh huh...creating a job for Megita. I guess poor little Megita has to refill the coffers after blowing a record $142 million of her personal fortune on her failed CA Gov. campaign.

[George McCasland]

09:49 PM on 05/23/2012

HP needs to send out a notification to all those people being laid off that is they have a child support obligation, they can get free help from the state to have the order modified, and that they need to make the official request right away, as it can take up to a year to get a hearing. This is a right they have under the 1988 Child Support Enforcement Act, and is detailed in the Federal Child Support Enforcement Handbook for Non-Custodial Parents. Unfortunately, the states refuse to distribute the handbook, which is free from the feds. Here is the material from it.
http://ChildSupportRights.org

[FinanceBeanTown]

04:46 PM on 05/23/2012

See you in Bangalore, they have 10K openings in India and China. Surprised? Not Me!

[dratster]

05:02 PM on 05/23/2012

Actually not... HP is making a big and quiet move into Latin and Central America (especially Costa Rica!)

[Rick Friedling]

04:21 PM on 05/22/2012

It MIGHT also have something to do with the fact that HP has been churning out cr_p for several years, especially with their core product, printers. I have just exchanged my third brand-new mobile printer due to, well, a refusal to work. Total junk. Epson is my new choice. HP execs can hide behind all the news about the poor economy and alleged shift from computers to phones all they want, but I and serious users NEED our laptops and desktops every day. Losers blame the market. Winners CREATE the market with innovative and well-engineeered and assembled products. HP cannot just butter over poor product design, assembly, and their abominable automated, "FAQ" customer service. My opinion; they're done, and Toshiba is going to eat their lunch.

[chunder]

11:31 PM on 05/20/2012

All started with Patsy Dunn. She screwed her way up through the ranks of several large Fortune 500 companies until she reached the pinnacle of the Peter Principle (no pun intended) as Chairwoman of the board at HP. It is no wonder that this once creative and successful company has sunk to the depths it finds itself today.

[willichew]

08:54 PM on 05/20/2012

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[willichew]

08:52 PM on 05/20/2012

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[MrDoughnut]

10:52 PM on 05/18/2012

When technology becomes unaffordable they will lose millions of imported product sales in the USA. If you can't afford it becomes a disaster for the big tech profit makers.

[MrDoughnut]

10:42 PM on 05/18/2012

When they loose their visa workers to another war they'll run out of cheap labor for a few years anyway.

[MrDoughnut]

10:29 PM on 05/18/2012

World economy will not get better any time soon the misery can lead to another world war. You'll see a military draft before a return of jobs .

[MrDoughnut]

10:18 PM on 05/18/2012

Older workers are growing in the US the little screens are not going to replace screens older people need.

[MrDoughnut]

10:16 PM on 05/18/2012

Smart phones and contracts aren't affordable by millions of unemployed or under unemployed workers or working poor. Screens are too small on phones to do much work ect.

[InDeNile]

06:47 PM on 05/18/2012

Once I heard of the layoffs. I too thought of Meg Whitman... The Mrs Gordon Gekko Of California.. I shudder to think if she had become Governor of California. With all that amount of money thrown into buying oops winning her way in.

I also remember Carly Fiorina too, I remember her before her run for Senator, when she was a top surrogate and adviser for John McCain's campaign.. I also remember her being fired from her adviser position too. She made the statement " that none of the presidential candidates, including McCain and Sarah Palin, were qualified to run a large corporation."

She was fired from H.P for bad mouthing the company she was running.

Why is it business people think because they have run a company "I'm a businessman" mentality think that they can run a government successfully? If Meg. Carly and yes even Mitt run a business like they have .. I shudder to think what the results would be if they were in office..

[Andrea Blackwell]

10:15 AM on 05/20/2012

Good question. Hewlett Packard died with the founders.
That company was the number 1 employer in the world until Nafta Fiorina.
Before then, there had NEVER been a layoff since the company was founded.
Merging with Crapaq was a HUGE mistake and they went ahead with it after kicking the founder's son off the board and AGAINST proxy votes.
Instead of going with their strengths, printing and HPUX, they took a company that had nothing HP didn't already have. They went into the merger knowing there were be over 35,000 layoffs..the headcount exceeded 50k. and became the 3rd best employer in India.
I wonder if they'll be passing out 45million dollar checks around the boardroom this time as well?
Sheesh, there were several tiers of technology they could have moved up to in order to save HP, but they pretty much buried it when the founders were gone.
I guess they're going for the full 100K layoff mark.

[Ocelot]

06:45 PM on 05/18/2012

::::::Slowly closes HP work laptop and cracks beer::::::

This is sad new indeed, fingers crossed I'm not in the cut!

[tincada]

06:00 PM on 05/24/2012

Get a MAC and a whole new world will appear before you.

[Lorili Lee]

03:51 PM on 05/18/2012

When was the last time HP came out with an innovative product? You can only go so far selling over-priced printer ink.