Well, I'm sure the employees had unreasonable demands, but, hey, at least the stock prices are up. HP laying off 27,000 workers in restructuring
If HP would move their operations to Texas they could hire workers rather that lay them off like they have been forced to do in California. The taxes and operating expenses are much less in free enterprise state of Texas than they are in the very high "entitlement" state of California.
"The Palo Alto, Calif., company says it'll save $3 billion to $3.5 billion annually from cost cuts, including the layoffs." Notice the words save.... This is a bottom line move not a company saving move. The stock going up shows this.
You are indeed correct, Catenaccio. A corporation must be loyal to its shareholders. It must make and sell products or services, make profits and distribute these quarterly profits to its shareholders. The Lefties in this group want corporations to become charities and contribute all of their earnings to people who do not want to work!
No problem. Thousands of highly qualified people from other states move to Texas every week. In the year ended July 1, Texas added more people than any other state, and Wyoming had the highest growth rate in the nation. Houston, Texas. An international city home to the NASA astronauts, oil executives and international business travelers. Americans, it seems, still have a love affair with the West. Texas and Wyoming were the big winners in the Census Bureau's annual population estimates, which were released on Wednesday. In the year ended July 1, Texas added more people than any other state, and Wyoming had the highest growth rate in the nation.
they misread how the market change would affect them. Bear in mind that HP bought Compaq. below is from one of many articles about the layoff. Miss Meg has her hands full trying to turn around a once mighty company. "The current troubles at HP have been traced both to Hurd and his successor, Leo Apotheker, who didn't respond to the threat posed by a shift to computing on smartphones and tablets"
Why the hell would they do that when they could take that of reasoning all the way to China and have the move subsidized by the government? No matter what Texas offers , China can beat it. It looks like H.P will sell the pc production side to the highest bidder anyway... and that bidder will most likely be chinese.
Haha!... yep.. who needs customers... business operates in a vaccum.. all you need are happy shareholders... I hear that HP is going to continue downsizing until they are simply a P.O box... they anticipate the move to boost savings by 5 billion dollars a year and stock prices up 3000% for 45 seconds until people figure out there really is no company left.
unlike with the current POTUS, good or bad, everything is ultimately the responsibility of a CEO (Obama being the exception because he's teflon man) A CEO needs to have a good core team around him (Exec VP's) who understand their segment of the business and hire people to succeed. Obviously the marketing arm of HP failed to sound the alarm or what happens all too often, they provide assumptions, market studies, trend analysis and it gets squashed at the middle mgmt level. The CEO is to blame for that as well. Every single employee who receives pay from HP has a vested interest in being keenly aware of the market and that even includes the janitor. I would not expect that my employer would sell a lot of hot coffee if my shop was on the beach. As employees purchased smart phones and tablets themselves which were not HP/Compaq brand they should have raised a stink. again, they may well have and it got whacked down by an ignorant person. again, although extremely removed that is still the fault of the CEO. That is one of the roles of being a CEO, you take the blame. Again, with only one exception and that being the present POTUS
California did this to itself. HP must react to the High Taxation/Regulation Democratic Government of the Democratic Party in California. The reaction is to reduce their footprint in the state and all the business units that are related to the state's employee set. I understand, we have begun the process of moving our I.T. company out of California as well. California is $9 Billion in the red right now. Expect revenues to decrease even more. So what did California put on the ballot for June? Major tax increases for "the rich"... which will destroy even more businesses.
lol youve been leaving california for 3 years now....I guess there isnt enough border for you to find your way out. and according to Sec the problem is the last 2 ceos.....who despite the high tax rate made millions in CA
not at all it's explaining to you that CEO's must take responsibility for everything. They are the head of the company. I pointed out that the exception is of course the current POTUS who accepts no responsibility for anything unless it can be used to his political favor. But, that is another glaring difference between the current POTUS and the man who will replace him in january Obama had no real-world leadership experience from which to draw so this was basically OJT for him and he has failed. It's not really all his fault, rather it's all of our fault. We elected him knowing full well his incompetence and inexperience. But, back to HP. Ms Meg was hired to turn around the company and i believe her understanding of current business trends will help her and she will succeed.