Hewlett-Packard HP Layoffs Job Cut: may fire 6400 employees

The news is not good for the employees of the Hewlett-Packard HP, which is the world famous computers and printers & accessories company. We had reported about Hewlett-Packard HP Layoffs Job Cut and now the news has added to it. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. The latest on to add to the list is the Hewlett-Packard HP Organization, which may be going for layoffs.

How many employees may be fired in the Hewlett-Packard HP layoffs?

As per the reports, there can be around 6400 layoffs by Hewlett-Packard HP.

What is the total no. of employees of Hewlett-Packard HP?

The total no. of employees of Hewlett-Packard HP is around 320000 as of now.

What will be the cost and savings by Hewlett-Packard HP layoffs?
No info about that.

When will the Hewlett-Packard HP layoffs happen?

The layoffs will occur in a planned and phased manner over the next 1 year.

Which locations and department of employees will be affected by the Hewlett-Packard HP layoffs ?
No info is available location or department wise.

What is the primary reasons for Hewlett-Packard HP layoffs?
The primary reasons for layoffs is cost cutting and structural changes in the organization with an aim to improve effectiveness of business.

Any other news about Hewlett-Packard HP layoffs
As per IndiaTimes, HP said net profit fell to $1.7 billion, or 86 cents per share, in the second quarter of its fiscal year from $2.1 billion, or 87 cents per share, a year ago, in line with the expectations of Wall Street analysts.
Let's hope that alternative jobs are available to the affected employees of Hewlett-Packard HP Layoffs Job Cut

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HP Lay off: HP Fires 24600 employees around the world

High on the heels of Wipro Layoffs followed by visit
Satyam Layoff, Hewlett Packard or HP, another top IT Giant, has decided to go for a massive HP lay off. As per the news that has come out, Hewlett-Packard plans to cut 7.5 percent of its work force, or 24,600 jobs, seeking to realize savings from its recent acquisition of Electronic Data Systems, the company said on Monday. Is this the time for the IT industry to declare tough times? Already the financial sectors have send jitters to the IT industry, because the BFSI sector is considered to be the top contributor for the IT industry.

Almost 50% of these jobs will be cut in the recently acquired EDS headquarters in Palo Alto, California, USA.

HP estimated $1.8 billion in annual cost savings once the three-year cost-cutting program is completed. At the time the $13.2 billion merger of computer services provider EDS into HP was announced in May, Hewlett-Packard counted 178,000 employees on its books and EDS had 142,000 employees. HP mentioned that majority of the jobs that will be cut will be in terms of overlapping functions in EDS and HP like as in legal, accounting, information technology and human resources.

Work-force reduction plans will vary by country, based on local legal requirements and consultation with works councils and employee representatives, HP said.

The only good news for the employees is that the company will provide employees affected by this restructuring program with severance packages, counseling and job placement services.

Recently, TCS created a big uproar by deducting the salary of employees or going for a salary cut. In India, it was TCS which went for a TCS layoff following TCS salary cuts. Then it was IBM which axed 700 jobs across all over India.
In February, Tata Consultancy Services (TCS), the country’s largest IT services firm, had given pink slips to 500 non-performers. IBM, too, had asked about 700 employees in India to leave, citing non-performance. In July, Patni Computer Systems had shown the door to 400 employees. While IT companies said the move was not linked to the slowdown in the US, a key market for IT services, there was a consensus that it was time for belt-tightening.




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