Has anybody heard anything about possible cuts before month's end?
8 replies (most recent on top)
Boise site lease with the state of Idaho runs out in January 2022. HP was to finish their multi year cuts by 2022. Put 2+2 together and you will get your answer. I'm betting they cut bait in June or July. The company hoping the state can reimburse them for leased space left for the 6 months after severing the contract. Pending Idaho governmental agencies move more divisions in to fill up spaces left before the end of the year.
I have just been informed that I will be WFR'ed with another one in my team in Q2. I was given time to look for other opportunity within HP. So, It is happening...with the re-org the workload is absorbed by the remaining people.
Cuts will continue just like they have for the past 15+ years. HP lost their product creativity decades ago. Plenty of missed opportunities. A series if books could be made on how poor leadership can tank an American icon.
The cuts are coming in Q2 of this year.
Bonus cut? In 2020 we got the best bonus % since last century, when I joined the shop! No raises this year, but I sold my deferred stock award and still got ahead.
pay cut, bonus cut, dividend and share buyback increases to drive up share price ( who benefit you might ask: Hint: who in company gets rewarded with Shares). where do you think all the money came from with Print business suffering yearly—> Work force reduction and pay adjustments.
Expect cuts to be completed 5 weeks before a quarter's end. That allows time to roll up the reductions for the next quarterly report.
There were some rumors, but I'd like some confirmation before I start panicking.