https://www.marketwatch.com/story/hp-to-slash-7000-to-9000-jobs-over-three-years-as-part-of-major-restructuring-2019-10-03
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True, CW's get advanced notice. All HP contractor agency's are paid by the month, in advance. The agency knows that far in advance if their workers are being let go. Agency's that do not give a head's up to their workers in advance are just bad agency's to work for and not HP's fault.
Not true about the notice time a CW gets. It can be a few days to a week or more of notice time depending on their agency. In the fabs and production it is usually a day or two. Other departments like engineering it could be a week or two notice.
Correct. CWs get notified same day, turn in badge/equipment, go home, start UE claim, and hit the job sites.
Those numbers only include FTE. There will be layoffs of contractors too but those don’t have to be notified/announced
Most probably is FTE
Anyone know if contractor layoffs are included in full 7000-9000 count, or do those numbers include only FTEs?
Any details on what the early retirement package is?
Not that HPE is doing much better, but the shoe is finally dropping on what many expected for HP post split.
Better than a stick in the eye but hopefully it's not phased.
For the EER is offering 2 weeks for every year up to max of 52 weeks and 36 months of health at rates similar to what employees pay today.
10% of workforce will be reduced after EER. That means 5,500 or so will be layoffs the rest 1,500-3,500 to complete 7,000-9,000 will be EER. This doesn’t include layoffs of contractor, savings in real state (sites closing). In total all that will be annual savings of $1B in 2022
Actually it’s EER
"It is rather perplexing that they are offering an Early Retirement package at this time. They have been laying lots of people off recently; why not just continue to do so? Why pause for an EER, then proceed with WFR? I can’t figure their angle on this."
Lots of employees are older and they need a way around age discrimination lawsuits.
Any word on the ERR package?
I wonder how people who got (or are getting) laid off process the reality that many of their peers are going to be handed a ~$100k check to “volunteer” to leave.
In reply to @11muuOdq-usb - printing is not dying on the whole, but personal printing in the home is. With the turn to buying stuff online, where do you think all those printed boxes come from? Packing lists also have to be printed out. Yep the printing industry is booming but not in the way you think it is. Yes HP makes printers for box makers, food containers and even a printer for the fabric and plastic industries. Those printers are huge and I am sitting next to one right now. It is longer than 2 semi trucks with long trailers parked end to end.
Paper printing will never return to the past levels no matter what HP does with prices, quality, ink quantity or anything else. Printing is dying. They need to get out of it now, not double down with Samsung and possibly Xerox.
X HP employee here. Most sad for HP employees to hear about this recent post of yet more layoffs. I read the article. 10% dividend increase and five billion $ set-aside for stock buybacks. Money over people, more of the same. I have all but given up on purchasing HP products. I still own an HP printer. But ya know., I just can’t justify using it much due to the cost of the ink and not to mention the devious software configurations employed via HP. The nefarious expiration dates, only half filled, software always changing print quality setting in order to use maximum ink usage. Its a constant battle fighting these issues.
Then HP’s practice of off-shoring customer Svc. Deviant warranty practices, language barriers, lack of corporate response, the list goes on and on. NOT the original Hewlett Packard I used to work for as of the early 2000’s. Worked for the founders company for over 15 + years (six years in Corvallis - silicon fabs). Unfortunately I saw the writing on the wall when the end assembly lines were being packed up and sent off-shore. Then when Agilent was spun-off, AND the begging nail in the coffin, “The Rock-Star” took the helm when LP had retired 1999. She was loads of fun huh?
My thoughts regarding HP printing, HP might want to reconsider the above grievances I mentioned, and maybe apply a different approach. Stop the “50%” semi-filled ink cartridge method, the Sneaky software BS, and be a lot more user friendly over-all. Me., I know I would use a hella lot more HP ink!
If the current HPQ would re-think their ink strategy, customer service practices, focus greater quality technology, retain the quality permanent staff, and be more corporate responsible, many lost customers will return as loyal HP consumers. News customers will also be attracted to the company.
My best wishes to all HP employees. Hang in there.
It's been clear that the cash cow of printing has been declining for years but I am surprised it will take a 15-20% cut in employees to accommodate it.
Horrible work environment the last of the dinosaur tech companies is now extinct.
It is rather perplexing that they are offering an Early Retirement package at this time. They have been laying lots of people off recently; why not just continue to do so? Why pause for an EER, then proceed with WFR? I can’t figure their angle on this.
Industrial and 3-D print (polymer and metals) are the technologies moving forward
Traditional print is on a rapid path to irrelevance. HP will continue to divest in this space until selling it off to a conglomerate. There is not enough profit in it to be worthwhile.
In the interim, people will continue to be shuffled around and laid off. Considering recent corporate practices, HP will do this better/more humanly than most.
Saw this coming a mile away. I am surprised the ride lasted this long. Maybe their plan to raise the prices on printers that can use aftermarket supplies and lock down the cheap printers will work but bottom line is that consumers and businesses are printing on paper less every year. Industrial is a different beast. 3D still have 5-10 years to go to be of any help.
I wish all of you good luck!
Yes also the early enhanced retirement program has been announced. My guess they will do EER then massive layoffs
Why would this surprise anyone who has worked for hp for any period of time. I left in 2005 after 5 years of layoff and 14 years later it still has not abated.
Who are the genii who think that the can fire enough employees as a way to long term profitability? Eventually you get to zero and there is no money in that.