Megacorp restructuring resulting in layoffs of up to 30k people

[Lisa99]

Last year that announcement would have struck fear into my heart.

They also announced that an early retirement package is being structured. No idea what the package will look like, but it is usually offered to anyone over 50 with at least 10 years of service, which I fit into.

So the coming weeks and months are going to be interesting to see how this all unfolds (my manager would wring my neck, but hey, I'm willing to walk away with a few bruises)

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

 

[MichaelB]

Someone said luck is what happens when preparation meets opportunity. If this is your case, hope it work well for you - you certainly have prepared.

 

[ziggy29]

Someone said luck is what happens when preparation meets opportunity.

That is one of my favorite quotes.

I'm not quite as close as Lisa is to having a chance to seize the moment -- but getting close -- but it won't be long before I'd be the first in line to volunteer if the severance package is sweet enough. If it included a several months pay (especially if there was health insurance for a little while, too), it would start getting tempting.

 

[Lisa99]

That is one of my favorite quotes.

I'm not quite as close as Lisa is to having a chance to seize the moment -- but getting close -- but it won't be long before I'd be the first in line to volunteer if the severance package is sweet enough. If it included a several months pay (especially if there was health insurance for a little while, too), it would start getting tempting.

Regardless of what the package is I wouldn't be able to quit working completely...there is that NUMBER after all that we haven't hit yet.

However, I had a one woman consulting gig back a few years ago and I could definitely do that again since DH carries health insurance on both of us.

 

[donheff]

Someone said luck is what happens when preparation meets opportunity. If this is your case, hope it work well for you - you certainly have prepared.

+1 Yes, keep your fingers crossed. And remember, your acceptance saves someone else's job.

 

[Nords]

They also announced that an early retirement package is being structured. No idea what the package will look like, but it is usually offered to anyone over 50 with at least 10 years of service, which I fit into.

If you're reading the same business press about HP that ClifP and I are reading, I'd expect knife fights in the lines of people queuing up for the ER packages.

Taking a package now beats the heck out of hanging on for a few more months and then having to wait for the bankruptcy court to decide the numbers.

 

[Lisa99]

If you're reading the same business press about HP that ClifP and I are reading, I'd expect knife fights in the lines of people queuing up for the ER packages.

Taking a package now beats the heck out of hanging on for a few more months and then having to wait for the bankruptcy court to decide the numbers.

when this whole thing hit the press, my gut reaction was 'here we go again'. I came from EDS which HP bought, so I'm way too familiar with the services side of IT outsourcing.

 

[jazz4cash]

when this whole thing hit the press, my gut reaction was 'here we go again'. I came from EDS which HP bought, so I'm way too familiar with the services side of IT outsourcing.

What I don't get is why "diminishing demand for PCs" would prompt layoffs in the contract services groups which I understand are quite profitable, except SIL and other that came over from EDS have told me the cultures never quite merged.

 

[pb4uski]

What I don't get is why "diminishing demand for PCs" would prompt layoffs in the contract services groups which I understand are quite profitable, except SIL and other that came over from EDS have told me the cultures never quite merged.

You are really trying to find logic/common sense at HP?

 

[explanade]

HP is still profitable, isn't it?

Or is Whitman trying to make the balance sheet look better to please Wall Street?

 

[clifp]

You are really trying to find logic/common sense at HP?

I wonder if reversion to the mean applies to management, if so HP is pretty good example.

I am surprised that they are still profitable.

 

[Independent]

I wonder if reversion to the mean applies to management, if so HP is pretty good example.
.

I'm pretty convinced it does. I have a theory called "A Random Walk to the Corner Office" that fits in somehow.

 

[clifp]

I'm pretty convinced it does. I have a theory called "A Random Walk to the Corner Office" that fits in somehow.

I am also thinking of Buffett's quote. "Invest in businesses any idiot could run, because someday one will"

 

[obgyn65]

Welcome to capitalism.

HP is still profitable, isn't it?

Or is Whitman trying to make the balance sheet look better to please Wall Street?