HP profits lower, to cut nearly 6,400 workers

Source: Economic Times India

20 May 2009, 0648 hrs IST, AGENCIES

WASHINGTON: US computer giant Hewlett-Packard reported a 17-per cent fall in quarterly net profit on Tuesday and said it plans to cut two per cent of its workforce, or nearly 6,400 workers, over the next year.

HP said net profit fell to 1.7 billion dollars, or 86 cents per share, in the second quarter of its fiscal year from 2.1 billion dollars, or 87 cents per share, a year ago, in line with the expectations of Wall Street analysts.

The Palo Alto, California-based company, the world's largest manufacturer of personal computers, said revenue was down three per cent in the quarter which ended on April 30 to 27.4 billion dollars.

Chief financial officer Cathy Lesjak announced the planned layoffs in a conference call with analysts after the release of the results.

“We will be taking some targeted action to structurally change and improve the effectiveness of our product businesses,” she said.



Read more: http://economictimes.indiatimes.com/Infotech/HP-to-cut-nearly-6400-workers/articleshow/4554191.cms

---

Wonder what country these job losses will come from.

just didn't make as much as they'd like? Just fantastic.

Jay

HP to layoff 6,400 in U.S., continue to hire in India.

Wow! Obviously Apple is 'gonna go out of business
any day now!

Tesha

P.S.: Apple's hiring in the foreign land of Cupertino, CA!

Where will the iphone/ipod factory be located in Cupertino?

But they certainly do their engineering there.

By the way, how much on-shore manufacturing does HPQ do?
How much engineering? Hint: A bunch of places that used to
depend on HPQ (or its predecessors, DEC, Tandem, and Compaq)
are now ghost towns as far as computer engineering is concerned.

Tesha

only the pittance of engineers that they allow to be employed in the US. You must also love Microsoft with their large facility in Redmond :eyes:. HP is headquartered in Palo Alto and they still seem to employ quite a few there.

I have an iphone and love it. Think its one of the best inventions in the past 20 years. Hate the fact that I have to subscibe to the Apple monopoly known as itunes though. I am just not an Apple acolyte like you.

Maybe you'd be interested in their new product?

http://www.theonion.com/content/video/apple_introduces_revolutionary

"Designed by Apple in California Assembled in China" is what my Macbook says. Why do they think I care that it is "Designed...in California"? Do you think I'd refuse to buy it if it was also designed in China (or Taiwan)?

I have a Specialized bicycle that says "Engineered in California" (made in Chinois). I cared so much about that that my next bike was a Giant--"Engineered in Taiwan"! Turns out that I spend as much time worrying about the income of California engineers as they spend worrying about the livelihoods of Michigan manufacturing workers, say.

All of which is perfectly predictable, of course. What's a mystery in all of this is the idea that anybody cares that their Macbook or bicycle where "Designed in California". :wtf:

PS: I just told you I own an Apple, dolt. I just don't care where it was "Designed". :hi: