Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Click for more information, or
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
UCS Invicta: Integrated Flash
Deploy flash memory technology to
deliver peak workload performance.

Find out more>>
Hardware
Next Generation Data Center Is Here!
Average Rating:
Rate this article:  
HP Raises Planned Layoff Total to 34,000
HP Raises Planned Layoff Total to 34,000

By Seth Fitzgerald
December 31, 2013 1:12PM

    Bookmark and Share
HP originally projected 27,000 layoffs for its restructuring; then, in September, that number was bumped to 29,000. Now that we are finally entering HP's big restructuring year, the layoff count is once again rising to 34,000, a number that accounts for more than 10 percent of HP's employees.
 



Hewlett-Packard, like many other tech companies, has been faced with hard decisions and the need to restructure parts of the company. In 2012, HP began to put together a restructuring plan that would go into effect over the coming years. Having already reduced its workforce by 24,600, the company now says the total number of employees cut will reach 34,000 by the end of 2014.

This layoff count is 5,000 higher than what HP had originally expected it would need in order to meet financial goals. The increase was confirmed in the company's 10-K filing with the Securities and Exchange Commission, which was made public Tuesday.

More than 10 Percent

HP originally projected 27,000 layoffs for its restructuring; then, in September, that number was bumped to 29,000. Now that we are finally entering HP's big restructuring year, the layoff count is once again rising to 34,000, a number that accounts for more than 10 percent of HP's employees.

The numbers in the SEC filing came as no surprise, with HP Chief Financial Officer Cathie Lesjak discussing similar numbers during an October analysts call.

"Let's start with the restructuring program," Lesjak said at the time. "Our restructuring program is really on track. At the end of fiscal '13, on a program to-date basis, roughly 24,600 people exited under the program. So that's just under 13,000 in fiscal '13. As we talked about Security Analyst Meeting, our current plan is to end -- at the end of '14 at the high-end of our range, so 29,000 plus 15 percent, so somewhere between 33,000 and 34,000 people."

The Last Massive Change

Even though the 34,000 layoffs is a bad sign for HP and for the employees themselves, HP CEO Meg Whitman has already issued assurances that once fiscal 2014 is over, her company will not be going through more massive changes.

Outside of the corporate changes taking place within HP, the company has recently been making headlines as a result of its new products, namely the HP Chromebook 11. These consumer devices are part of the company's restructuring process which will hopefully turn HP into a more manageable consumer electronics company. Unlike Microsoft, which is changing many parts of its business strategy, HP is lucky in that it is only forced to find ways to cut costs as it regains prominence in the industry.
 

Tell Us What You Think
Comment:

Name:



APC has an established a reputation for solid products that virtually pay for themselves upon installation. Who has time to spend worrying about system downtime? APC makes it easy for you to focus on business growth instead of business downtime with reliable data center systems and IT solutions. Learn more here.


 Hardware
1.   AMD Debuts 64-Bit ARM Server Chips
2.   MacBook Pros Get Update, Price Cut
3.   Watson's First Consumer-Facing Gig
4.   China To Call Qualcomm a Monopoly
5.   Design Central to Microsoft Future


advertisement
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
New 'Backoff' Malware Slips Undetected into Retail Systems
'Malicious actors' are using a new variety of malware to access consumer payment data remotely through point-of-sale systems, according to a report from the Department of Homeland Security.
 
IBM Beefs Up Identity Intelligence Security Solutions
Big Blue is betting big on identity intelligence. IBM just acquired a private firm with security software to govern user access to apps and data across cloud and on-premise environments.
 
USB Security Flaw Lets Hackers Hijack PCs
Hackers can use the firmware that controls USB functions to take control of computers, say security experts. That means there may be a new class of attack for which there are no defenses.
 

Enterprise Hardware Spotlight
AMD's ARM-Based Opteron Out in $3K Dev Kit
It's dubbed "Seattle" and it's AMD's first 64-bit ARM-based Opteron processor. The low-power chip is being released as part of AMD’s Opteron A1100-series developer kit, and aimed at high-end data center needs.
 
Apple Updates MacBook Pros, Cuts Prices Up to $100
The popular MacBook Pro laptop line just got an update and a price cut of as much as $100. The MacBook Pro with Retina display now includes faster processors and double the memory.
 
Dell, BlackBerry Not Sweating Apple-IBM Alliance
IBM's recent move to partner with Apple to sell iPhones and iPads loaded with corporate applications has excited investors in both companies, but two rivals say they are unperturbed for now.
 

Mobile Technology Spotlight
BlackBerry Messenger Now Available on Windows Phone
BlackBerry's free Messenger chatting and voice app is out of beta and widely available for Windows Phone users, the company said. BBM offers secure messaging, Groups, Voice, Channels and more.
 
Virgin Mobile Offers Custom Smartphone Plans
As the wireless carrier wars continue heating up, Virgin Mobile just threw the customization coal onto the fire. The firm has debuted a no-annual-contract plan with rates based on individual use.
 
Collaboration Provider Asana Revamps Mobile App
Asana, a collaboration software provider started by a Facebook founder, is now out with a rebuilt native iOS mobile app. It replaces one that even the company admits was not up to par.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | CRM Systems | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.