If HP has over 50,000 employees and plans on laying off 6,000 isn’t that only around 10% of the workforce being laid off or about 1 person laid off for every 10 people employed at the company? If this is true then doesn’t that mean that most of us have a good chance of keeping our jobs and not getting laid off?
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PC is a cut throat business with razor thin margin, where print is a sunset business, coupled with Mgt buybacks and ever increasing dividend payout, thats the reason why HP has been cutting hc for many many years. This is not the first and will definitely not the last.
I left HP right before the layoffs were announced. I knew that a layoff was coming because HP kept furloughing the contractors. My main reason for leaving was that I was severely underpaid for the work that I was performing. Another company offered me a 45% raise so I left even though I loved my job at HP.
Stay at HP at your own risk. Just remember that HP has a very long history of laying off people by the truckloads without compassion.
Yes, ultimately that is correct. From what I'm seeing, a portion of those 6000 will come in the form of no backfills for attrition, which reduces the odds of direct layoff. Early enhanced retirement will also reduce them.
With that said, HP is not positioned well to grow the business and will continue to face difficult market conditions for a minimum of the next 3 quarters, but likely a year+. If that occurs, more heads will roll.