HP May Cut 8-10% of Workforce Starting Next Week

[exfileme]

HP is reportedly cutting a chunk of its workforce in order to reinvest.

HP May Cut 8-10% of Workforce Starting Next Week : Read more

 

[wannabepro]

1 CEO's salary cut, saves 1 million. ^^^

15,000 x $50k = $750,000,000

The best way would be to cut corporate taxes.

 

[rdhood]

The best way would be to cut corporate taxes.

Fail. You assume that HP would not cut those people if their corporate taxes were cut. They would cut anyway. HP has cut a hundred thousand jobs over the last 10 or 15 years, even in times of prosperity. I was laid of (everybody in my group) a few years ago, during a quarter in which HP came in "above expectations" and made billions. HP became a dysfunctional hire-and-fire company, starting with Carly Fiorina, and continuing through MW. Corporate taxes has got nothing to do with it.

 

[ananke]

Corporate taxes doesn't matter to a multinational corporation. The profits are expatriated to the lowest taxing territory anyway, through trade and accounting approaches, and taxes are minimized. The corporation eventually pays minimal taxes in the US, BUT the Americans employed pay income, wealth, sales etc. taxes. Hence, when you have loss of American jobs, the revenue to IRS goes down, regardless of the corporate taxation level. In fact, corporate and wealth taxes must be zero, if you want to compete with Swiss, Singapore, etc., and eventually rely only on personal tax revenue.

Btw. I was working in HP finance at one point.

 

[svdb]

[citation][nom]Wannabepro[/nom]1 CEO's salary cut, saves 1 million. ^^^15,000 x $50k = $750,000,000The best way would be to cut corporate taxes.[/citation] Nope. Companies like HP pay very little taxes already, about 16% after applying all the legal deductions that they successful lobbied for. Countries
like Sweden and Denmark have way higher corporate tax rates (around 26% after deductions) and yet their unemployment rate is around 6% which means almost full employment.
In the US less corporate tax = more money for the shareholder, not more jobs.

 

[eddieroolz]

Every company needs to cut some of its underproductive work force, that's a given.

 

[dark_knight33]

[citation][nom]Wannabepro[/nom]The best way would be to cut corporate taxes.[/citation]

I find it hard to argue with someone who cant see the truth past all the teabags dangling in their face.

 

[Guest]

how about cutting out Ray Lane?

 

[svdb]

[citation][nom]eddieroolz[/nom]Every company needs to cut some of its underproductive work force, that's a given.[/citation]You're so right. Let's start with you!

 

[Guest]

As an ex HPer, HP has been on a downward slide since it lost its way during the reign of Queen Carly. Dictator Hurd made things immeasurably worse by gutting R&D to pump up his bonus. Then you had crazy Leo and now Missy Meg. Missy Meg is all about talking reinvestment and big ideas like doing cloud and security but does nothing to make it happen. Of all the bad CEOs for HP, I am afraid Missy Meg may be the one that finally sinks the ship by dumping all the expertise overboard. You see, they are not laying off the second and third stringers from India, Costa Rica, Poland and China. They are dumping the experienced first stringers that made HP a great company. I expect an outcome very similar to what happened at Circuit City when their idiot CEO laid off any one making more than $8.25. Very sad to see HP go. Glad my HP pension is an annuity.

 

[GreaseMonkey_62]

Honestly, I think the best way to save money in a corporation is not to fire the thousands that contribute to the over all economy of a nation, but to cut the salary of the CEO or some top executive's salary by say.......1%......which could mean......1 million a year? 😛

I agree, the average CEO's salary of a company the size of HP, plus bonuses is in the millions. Start chopping away at executive salaries and bonuses (which they can earn even if the company isn't doing so well). Of course if a person's position isn't truly needed, ie they're making up stuff just to keep the person busy, I could see cutting them.

 

[GreaseMonkey_62]

As an ex HPer, HP has been on a downward slide since it lost its way during the reign of Queen Carly. Dictator Hurd made things immeasurably worse by gutting R&D to pump up his bonus. Then you had crazy Leo and now Missy Meg. Missy Meg is all about talking reinvestment and big ideas like doing cloud and security but does nothing to make it happen. Of all the bad CEOs for HP, I am afraid Missy Meg may be the one that finally sinks the ship by dumping all the expertise overboard. You see, they are not laying off the second and third stringers from India, Costa Rica, Poland and China. They are dumping the experienced first stringers that made HP a great company. I expect an outcome very similar to what happened at Circuit City when their idiot CEO laid off any one making more than $8.25. Very sad to see HP go. Glad my HP pension is an annuity.

It's interesting to hear of CEO mismanagement from someone who worked there and not just a journalist.