Feeds

HP pink slips another 1,800

Market slowdown

  • alert
  • submit to reddit
ComputerWire: IT Industry Intelligence

Another 1,800 Hewlett Packard Co workers are set to lose their jobs in the wake of the company's merger with Compaq Compaq Corp.

Palo Alto, California-based HP confirmed yesterday that it had raised the number of planned job cuts following the merger, and that 16,800 workers would lose their posts by the end of its fiscal year 2003, instead of the 15,000 originally planned. Of that figure, 10,000 will have gone by the end of its current fiscal year, October 31.

The increase in lay-offs was put down to "a continued market slowdown, and HP's clear intent to have a competitive, world-class cost structure." HP said the slowdown in enterprise IT spending was "persisting 6 to 18 months longer than previously estimated by most economists."

© ComputerWire

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.