Tech & Biz

HP to cut nearly 25,000 jobs by 2011

by SOLARLIFE | September 15, 2008 at 04:10 pm

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Mergers end bitter.
Hewlett Packard merged with Compaq Computer to dominate the market.Result missing innovation drifted to cost cutting of no-milestone products. The last in the innovation curve is the bean counter, cost cutter. Outsourcing workers in a High tech company will backfire with low company intelligence for adaption to customer needs. Another example of HT companies, that would have needed the cash the brokers burnt with sub-prime speculation.

McKinsey disease
The old McKInsey disease cut costs fire workers stop innovation will not push the

shares up. The founder has gone the 3 generation ruins the company. Taking care of

shareholder value only, the Lehman disease spreading fast. America needs production,

educated workers and the finance world to invest the money in America for production

not speculation, with hello from Henry Ford.

The laptop gets sexy More Videos
NEW YORK (CNNMoney.com) -- Computer maker Hewlett-Packard said it will lay off 24,600 employees, or 7.5% of its workforce, over the next three years in a plan to integrate tech outsourcer Electronic Data Systems, which HP bought late last month.

HP said the workforce reduction will result in annual cost savings of about $1.8 billion. Of the nearly 25,000 layoffs, HP said about half will come from workers in the United States.

"HP has a strong track record of making acquisitions and integrating them to capture leading market positions," said Mark Hurd, HP's chief executive, in a statement. "We will deliver on the promise of HP and EDS for our customers and shareholders."

A company spokesman said HP was cutting positions that were made redundant due to the acquisition of EDS