Thread regarding HP (Hewlett-Packard) layoffs

What is HPQ doing to help employees on Economic impacts of Coronavirus

5 years from retirement. My 401k tanks by 20% in last 2 weeks. Facebook offers all 45000 employees 6 months bonus to compensate work from home, on base salaries that are already 50-100% more. What is Enrique going to do for employees to compensate for this now that Xerox threat has dissolved? I feel they need to do extensive special RSU grants and cash bonuses. Will they? I doubt it, only L3 and above will be incented to stay the course. The reason our company is so exposed, like most other US corporations, is their rush to move everything to Asia to reduce OpEx and product costs. It will come back to bite as it will with GE, Whirlpool, Dell, Apple etc (name every other major consumer electronics brand here).

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Post ID: @OP+142QuUPB

10 replies (most recent on top)

Did you see the email from Enrique today? Doesn’t look like anyone is getting a cash bonus. In fact, it’s the opposite, layoffs are coming.

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Post ID: @Hnls+142QuUPB

I am seven years from retirement, and was laid off by HP. I was informed by my manager at HP that my dismissal was just about numbers. At HP, like many other large companies, you are only as valuable to the corporation as your current managers opinion. Their 2nd. Qtr. financial reports will be out in 3 days, and they will not be good. I would expect salary cuts, and possibly furloughs/additional layoffs.

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Post ID: @Fuzz+142QuUPB

Everyone at HP says they are 5 years from retirement.

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Post ID: @Evcl+142QuUPB
Facebook offers all 45000 employees 6 months bonus to compensate work from home

After doing a little google fu, I found that what Facebook said it is doing is giving employees their usual bonuses, which they get every six months, plus an extra $1000. They aren't getting "6 months bonus".

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Post ID: @ijby+142QuUPB

HP knows that if you could have left to work at a FAANG, you would have already done so.

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Post ID: @4oka+142QuUPB

What is HP doing for economic impact? There's little impact to most people, CW's and Hourly employees are being paid as if they were working full-time, standard employees that can work remotely are working remotely, HP is donating time, equipment and money to the greater cause.

Seems like the right thing to do.

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Post ID: @2mvk+142QuUPB

All you crusty grouchy long-time employees need to take a breath. The company doesn't target you because you're about to retire it's because you're not operating with growth mindset/trying to find the next thing. Most people that took the EER were just sitting and buying time anyway, riding the "3% salary increase for 30 years" wave.

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Post ID: @2bei+142QuUPB

Well, if its like HP of the past 20 years, when you're 5yrs from retirement, their idea of "helping" is going ahead and laying you off.

Surely you're not just now seeing this. It can't be a surprise. If you're within 5yrs, you had to know this was very likely there. If not, you're blind

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Post ID: @wls+142QuUPB

Haha my guess is that the response will be to lay people off, not give them bonuses.

The Xerox thing is also unclear. They said the campaign is “suspended”. So who knows if they will resume the takeover at a later date.

Also, I hate to say it but we are not a comparable company to Facebook.

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Post ID: @qlq+142QuUPB

I get paid my full salary to work at home. I save money on gas and I cut almost 2 hours off my daily commute. I think that is a plus right there.

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Post ID: @lch+142QuUPB

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