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Republican_Man
STV's Premier Conservative
Joined: 26 Mar 2004
Posts: 14823
Location: Classified
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 Mon Jul 18, 2005 8:48 pm |
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| Starbuck wrote: | | I still wanna know how you figure that the statistic of people who ran out of unemployment and don't have a job is small. |
I already said it.
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"Rights are only as good as the willingness of some to exercise responsibility for those rights- Fmr. Colorado Senate Pres. John Andrews
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Starbuck
faster...
Joined: 19 Feb 2003
Posts: 8715
Location: between chaos and melody
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| Mon Jul 18, 2005 8:51 pm |
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And I want to know your logic behind it. Your answer makes NO SENSE.
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Jeff Miller
Fleet Admiral
Joined: 22 Nov 2001
Posts: 23947
Location: Mental Ward for the Mentaly Unstable 6th floor, Saint John's 1615 Delaware Longview Washington 98632
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| Tue Jul 19, 2005 6:41 pm |
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| Quote: | Hewlett-Packard to cut 14,500 Jobs
02:17 PM PDT on Tuesday, July 19, 2005
By kgw.com and AP Staff
Computer maker Hewlett-Packard Co. on Tuesday said it will cut 14,500 jobs worldwide, about 10 percent of its full-time staff, as part of a restructuring plan designed to save $1.9 billion annually and boost business performance.
The cuts -- about 10 percent of its global work force of 150,000 -- will occur over the next 18 months. HP has about 58,000 workers in the United States, including a sizable campus that employs 3,400 in Corvallis, Ore. Another 1,800 work for H-P in Vancouver, Wash.
The Palo Alto, Calif.-beasd company has not yet said where the layoffs will take place, only that the cuts will occur over the next six quarters.
They said most of the job cuts will come in support functions - such as information technology, human resources and finance - and the rest will be made inside business units.
The company said job cuts in sales positions will be minimal, and there will be little change to the headcount in research and development.
As part of the cuts, HP said it will offer a voluntary retirement program to longer-serving employees based in the United States.
The company also said that as of January 2006, it will freeze the pension and retiree medical-program benefits of current employees who do not meet defined criteria based on age and years of company service. Instead, HP plans to boost its matching contribution to most employees' 401(k) plans to 6 percent from 4 percent.
The company said these changes won't affect benefits currently received by retirees or eligible employees who are longer-serving and close to retirement age. Existing employees will retain benefits they have already earned.
Shares of HP closed Monday at $24.92, down 2 cents, on the New York Stock Exchange. In pre-market activity Tuesday, they were up 18 cents. The company's stock has risen about 19 percent since Jan. 1, though it remains well below its peak during the technology boom.
The restructuring, which has been anticipated since former NCR Corp. CEO Mark Hurd was named chief executive less than four months ago, is within the range expected by most analysts. A few suggested the number could be as high as 25,000.
In May, Hurd described the cost structure at some of the sprawling company's divisions as "off benchmark."
"After a thorough review of our business, we have formulated a plan that will enable HP to begin delivering its full potential," Hurd said in a statement Tuesday. "We can perform better - for our customers and partners, our employees and our shareholders - and we will."
HP's restructuring does not appear to be a major shift from the company's strategy of competing in a broad area of the technology industry, from personal computers and printers to corporate servers and consulting.
That's in line with statements made by HP's board when it fired CEO Carly Fiorina in February and hired Hurd to replace her. Board members indicated they were disappointed in her ability to execute the strategy, not the strategy itself.
The problem is that it faces formidable competition at both the high end and low end from rivals that manage to squeeze higher profits. At the same time, HP's highly profitable printer and ink business is coming under increasing threat.
In corporate servers, software and consulting, HP competes against International Business Machines Corp. and its legions of consultants who can advise corporations on technology buying decisions and point to IBM's offerings.
At the other end is Dell Inc. and its efficient PC manufacturing and distribution system that HP has had difficult matching. On Monday, the research firm IDC report Dell's PC sales grew by 23.7 percent while No. 2 HP posted an increase of just 16.3 percent.
In fact, HP's PC division has long been rumored as a spin-off candidate, especially after the $19 billion acquisition of Compaq Computer Corp. failed to pay off as Fiorina had promised before her ouster.
Beginning in fiscal 2007, HP expects to save about $1.9 billion a year from the restructuring, made up of $1.6 billion in labor costs and $300 million in benefits savings. In fiscal 2006, HP expects savings of between $900 million and $1.05 billion from the restructuring.
The company said about half the savings will be used to "offset market forces" or be reinvested in the business to strengthen HP's competitiveness. The remainder is anticipated to add to operating profit.
HP plans to record pretax restructuring charges of about $1.1 billion over the next six quarters, beginning in the fourth quarter of fiscal 2005. This excludes a previously announced $100 million restructuring charge to be taken in the third quarter.
HP also plans to dissolve its Customer Solutions Group, which is responsible for sales to small and medium-size businesses and public-sector customers. It will merge the sales function directly into three individual business units - Technology Solutions Group, Imaging and Printing Group and Personal Systems Group.
Following the dissolution of CSG, Michael J. Winkler, 60, will retire as executive vice president of CSG, after nearly 10 years at HP and Compaq. |
I bet all those 14,500 people are wondering where those jobs are when they need them...
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IntrepidIsMe
Pimp Handed
Joined: 14 Jun 2002
Posts: 13057
Location: New York
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| Tue Jul 19, 2005 6:48 pm |
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Not happy when people are unemployed, and not happy when more people do have jobs. Sheesh. Seems to be quite the no-win situation.
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"Nelly, I am Heathcliff! He's always, always in my mind: not as a pleasure, any more than I am always a pleasure to myself, but as my own being."
-Wuthering Heights
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Republican_Man
STV's Premier Conservative
Joined: 26 Mar 2004
Posts: 14823
Location: Classified
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| Tue Jul 19, 2005 6:49 pm |
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((I'll explain my logic later))
| Quote: | | Computer maker Hewlett-Packard Co. on Tuesday said it will cut 14,500 jobs worldwide, about 10 percent of its full-time staff, as part of a restructuring plan designed to save $1.9 billion annually and boost business performance. |
I would guess that like other restructuring plans of companies that they could eventually get a job back in the company. Hey, my dad works for Avaya. He's a high-up Director, one level under a VP I believe, and they're now cutting back on a lot of employees--two of his best friends has been fired, and one of 'em's working in a good job and another is almost to getting a new job, I believe. These things happen--it's called capitalism. It's not pretty, but it's the way things go. Besides, people who get laid off can usually eventually find a new job of the same level  Doesn't say anything wrong about economic progress--it's still doing well.
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"Rights are only as good as the willingness of some to exercise responsibility for those rights- Fmr. Colorado Senate Pres. John Andrews
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Arellia
The Quiet One
Joined: 23 Jan 2003
Posts: 4425
Location: Dallas, TX
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| Tue Jul 19, 2005 7:26 pm |
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If you like the way the economy's progressing, just imagine what would happen if we remove the outsourcing...
Now keep imagining.
Would someone make it happen already? *sighs*
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Not the doctor... yet
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Republican_Man
STV's Premier Conservative
Joined: 26 Mar 2004
Posts: 14823
Location: Classified
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| Tue Jul 19, 2005 7:37 pm |
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Outsourcing is wrong, I don't like it, and I don't expect on me doing that with my business--I don't want to now. But that IS the perogative of the company to find the cheapest expenses...And the government shouldn't regulate it.
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"Rights are only as good as the willingness of some to exercise responsibility for those rights- Fmr. Colorado Senate Pres. John Andrews
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IntrepidIsMe
Pimp Handed
Joined: 14 Jun 2002
Posts: 13057
Location: New York
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| Tue Jul 19, 2005 7:42 pm |
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I love outsorcing. Why not? Nobody has anything to lose.
-------signature-------
"Nelly, I am Heathcliff! He's always, always in my mind: not as a pleasure, any more than I am always a pleasure to myself, but as my own being."
-Wuthering Heights
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Starbuck
faster...
Joined: 19 Feb 2003
Posts: 8715
Location: between chaos and melody
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| Tue Jul 19, 2005 8:02 pm |
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I'm not sure about outsourcing. I know what it is, but I'm not entirely sure if its good or bad for the economy. There's more than one form of outsourcing, its basically having someone outside of the company doing an essential job (i.e. hiring a payroll company instead of doing your own payroll) or taking someones job (typically in a call center enviornment) and giving it to someone in India or something like that. I don't know how my first example effects economy, but I think the second one is pretty hard on the econonmy. So someone correct me if I'm wrong here.
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IntrepidIsMe
Pimp Handed
Joined: 14 Jun 2002
Posts: 13057
Location: New York
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| Tue Jul 19, 2005 8:09 pm |
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Both are forms of outsourcing, however I suppose I was referring to the fact that outsourcing is beneficial for everyone, as long as it stays in the US. Your second example is just another Nike thing, 
But the typical, within-the-US outsourcing doesn't particularly hurt or benefit the economy, although it does benefit the company and people.
-------signature-------
"Nelly, I am Heathcliff! He's always, always in my mind: not as a pleasure, any more than I am always a pleasure to myself, but as my own being."
-Wuthering Heights
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Republican_Man
STV's Premier Conservative
Joined: 26 Mar 2004
Posts: 14823
Location: Classified
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| Tue Jul 19, 2005 8:10 pm |
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Actually, I was mistaken about outsourcing. I briefly forgot some particular things about it, and I believe in it. I'm not really opposed to it. It can really benefit the economy in many ways.
-------signature-------
"Rights are only as good as the willingness of some to exercise responsibility for those rights- Fmr. Colorado Senate Pres. John Andrews
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