Serious HP to cut up to 9000 jobs

[krafty]

Palo Alto, California | HP's new CEO has unveiled the company's latest plan to streamline its operations - one that envisions cutting its workforce by as much as 16 per cent over the next three years.

The personal computer and printer maker says it expects to drop 7,000 to 9,000 people from its global workforce of about 55,000 by 2020. It expects the moves to save it about $US1 billion ($1.5 billion) a year by the end of its 2022 fiscal year.

HP announced the job cuts Thursday at a meeting with Wall Street analysts headlined by incoming CEO Enrique Lores. He had been overseeing the HP division that includes its profitable business of selling ink for the company's printers before being named to the top job last month.

The workforce reductions come as the Palo Alto, California, company wraps up a three-year restructuring plan that included the elimination of up to 5,000 jobs.

HP was created in 2015 when Hewlett Packard split is PC and printer operations from its businesses specialising in data-centre hardware and business software. That part is now known as Hewlett Packard Enterprise.

HP's stock is down 10 per cent so far this year, while the benchmark Standard &Poor's 500 index is up 16 per cent.

Reuters

https://www.afr.com/technology/hp-inc-to-cut-up-to-9000-jobs-20191004-p52xkt

 

[sweetiepie]

KNN is the 9000 derived from the HP9000 mini computer KNN

 

[Leongsam]

I didn't know the company still existed. I thought that Carly woman had burned it to the ground.

 

[krafty]

the printer division also got hit. what a surprise...!!

 

[AhMeng]

the printer division also got hit. what a surprise...!!

Who prints nowadays. Only the old folks. Even I use E Boarding pass! Lol

 

[Leongsam]

Who prints nowadays. Only the old folks. Even I use E Boarding pass! Lol

I've actually been printing a shitload of my photos over the last couple of years because if I don't they'll be gone for good once I'm dead.

I've lost thousands of images because of technological advancement. My first digital camera was Sony Mavica



The images I took on that camera are still stuck on floppy disks. Do you have a floppy disk reader to spare?

Then there were those that were stored on my iOmega ZIP drive and the cartridges are dead.

in 30 years time trillions of images will have gone to their graves along with their owners. I know that most of the stuff is crap but if 0.1% are gems we will have lost a whole generation of world class images.

 

[myfoot123]

I hope that will translate into a vote against the PAP. More jobless is a good sign, as more people will vote for opposition. Let's put it this way, Singapore wealth derived not from having more foreigners, more incentives giving out to these tech companies. There is no real investors. Most investments came from rich foreigners buying downtown properties, developers sucking up to PAP for projects, PAP milking the earning of our people through fee hikes. The whole model is just so wrong that an overhaul surgery is needed to make Singapore great again, not just PAP botox.

 

[AhMeng]

I've actually been printing a shitload of my photos over the last couple of years because if I don't they'll be gone for good once I'm dead.

I've lost thousands of images because of technological advancement. My first digital camera was Sony Mavica



The images I took on that camera are still stuck on floppy disks. Do you have a floppy disk reader to spare?

Then there were those that were stored on my iOmega ZIP drive and the cartridges are dead.

in 30 years time trillions of images will have gone to their graves along with their owners. I know that most of the stuff is crap but if 0.1% are gems we will have lost a whole generation of world class images.

Sounds legit, but what % of people in this world are a photography enthusiast like you?

 

[AhMeng]

More jobless is a good sign, as more people will vote for opposition.

And after voting Opposition, these unemployed miraculously have jobs??

 

[Valium]

Retrench go ahead. They are usually the jiuhu kia job.

 

[Pinkieslut]

HP To Axe Up To 9,000 Jobs Worldwide, Restructuring Expected To Save US$1B By Fiscal 2022
Tech giant HP just revealed that it has plans to cut 7,000 to 9,000 positionsthrough firings and voluntary early retirement as a part of a 2020 restructuring plan.
This figure works out to about 16% of its current workforce, which is estimated to be 55,000.
The plan was announced at HP’s 2019 Securities Analyst Meeting in Palo Alto, California.
Said Enrique Lores, incoming president and chief executive officer, HP Inc: “We are taking bold and decisive actions as we embark on our next chapter. We see significant opportunities to create shareholder value and we will accomplish this by advancing our leadership, disrupting industries and aggressively transforming the way we work.”
These job reductions are predicted to help the company save US$1 billion (S$1.38 billion) by the end of fiscal 2022.
“The bulk of the savings will be in corporate functions, back-office support, and feet-on-the-street salespeople,” said CFO Steve Fieler in an interview.
This isn’t the first time that the firm has talked about job cuts.
Last June, HP revealed that it planned to increase its job cuts to 4,500 to 5,000 employees by the end of fiscal 2019. This was 1,000 more than the firm had estimated two years before.
HP has been in Singapore since 1970, and was “one of the earliest multinational corporations to invest in Singapore”.
In 2015, the firm split its operations into two companies – Hewlett Packard Enterprise (HPE) which sells business IT solutions and services, and HP Inc that focuses on PCs and printers.
The Straits Times estimated then that there were “as many as 10,000 employees in Singapore”.
In 2017, HPE revealed that it would spend US$140 million over the next five years in Singapore, “including US$16 million to nurture promising local startups in collaboration with the Singapore Economic Development Board (EDB)”.
Then, HPE even opened a new Asia Pacific and Japan (APJ) headquarters building in Singapore.
Then president and CEO of HPE Meg Whitman shared that HP “as a whole – including HPE, HP Inc and the newly formed DXC Technology used to employ 6,000-7,000 workers in Singapore”.
She then added that HPE had around 1,600 employees and even expressed her confidence that “the number would go up”.
It is uncertain how many HP employees in Singapore will be affected by the recent restructuring plans.
Also Read

 

[krafty]

 

[Kee Chew]

HP is finished for good.

 

[LaoTze]

And after voting Opposition, these unemployed miraculously have jobs??

At least we all do not have to go head down down and arseholes up high high for maggots maggotess in white to tiew to kann to fuck while they laff and laff all the way to their fucking banks.
We also can see them like Lau Goh doing exercises in picking up cardboards and pushing carts instead of being paid millions while they play with our billions

 

[AhMeng]

At least we all do not have to go head down down and arseholes up high high for maggots maggotess in white to tiew to kann to fuck

Your head up up can feed yourself and family with food? Good for you! Lol

 

[LaoTze]

Your head up up can feed yourself and family with food? Good for you! Lol

Of course!

While you and others can remain head down down and arseholes up high high for maggots maggotess in white to tiew to kann to fuck while they laff and laff all the way to their fucking banks.

 

[AhMeng]

Of course!

While you and others can remain head down down and arseholes up high high for maggots maggotess in white to tiew to kann to fuck while they laff and laff all the way to their fucking banks.

Good luck

 

[congo9]

HP product is really no good. Even in Malaysia, the sales lament that the laptop suffered a bad reputation.

 

[AhMeng]

HP product is really no good. Even in Malaysia, the sales lament that the laptop suffered a bad reputation.

If they are good, there isn't a need to retrench and restructure

 

[LaoTze]

Good luck

Thank you.
By the time I go, I estimate 3/4 of what I have will go to my wife's toyboys or my son gf.

Not withstanding I fly often for a week to 6 weeks to BKK, Taiwan, Aus, Europe for the coffee shop which sell lousy coffee and where tobacco not allowed to be smoked.

And if I finish my money, use my wife as she got even more $$$ than me.

I orledi a lau ahpek and did not work for last 5-6 years