Commenter on another thread said Boise will be closed by 2022. Is that insider info, or just speculation?
17 replies (most recent on top)
Dear HiringInBoise — Readers aren’t going to leave their PII here. It’s not a job board.
Anyone know which outplacement agency HP is using for the Boise layoffs? Also, if readers are interested in hardware/software engineering jobs in Boise leave a comment and a way to reach you.
”Why would the state not renew the lease?”
Because you seem to be deficient in reading comprehension, I repeat:
“The 7 year Boise Site lease with the State of Idaho was reduced to 5 years. This leaves just 3 years left. The State wants to occupy all available buildings and is not interested in keeping HP as a tenant.”
The State did not purchase the entire HP site to be in the lease business. Majority of Idaho government offices in downtown Boise are currently on leased property, and the various property owners are not renewing with the State... they want their properties back for their own use
This is why Idaho bought the HP site. They need the space and they got it at bargain basement price. And as far as losing the HP payroll and tax base, those are going away by end of 2022 by HPs choice. The State is wize enough to cut their losses and accept the early (Dec 2022) lease termination by HP.
Why would the state not renew the lease? Do they really want to lose all those jobs and tax dollars they provide? Do the have someone else lined up to lease the property?
Here are the lease agreements for HP and other companies. Search 'lease' and you can find the details. HPI can start bailing on 12/21/2022.
https://puc.idaho.gov/fileroom/cases/elec/IPC/IPCE1808/20180413PETITION.PDF
Buddy up with someone in the real estate team for the site. They know what is going on a long time before anyone else.
”HP initially had a 7 year lease but reduced it to 5 this last year. Does not look good for Boise.”
This poster is correct. It is a matter of public record. In spite of many downvotes on my previous post, I repeat:
1). The 7 year Boise Site lease with the State of Idaho was reduced to 5 years. This leaves just 3 years left. The State wants to occupy all available buildings and is not interested in keeping HP as a tenant.
2). Traditional print market is in steady decline. Available WW sales to not justify keeping the Boise Business; there is a good reason HP purchased Samsung Print, and is getting aligned with Xerox.
3). I believe HP Boise will be shuttered by end of 2022. Jobs are being actively transferred to India, China, South Korea, are quite possibly Singapore.
If someone has information or evidence to the contrary, I’m all ears. But I’ve been around the business a long time, and I’m quite intuitive to what is going on. I truly hope I am wrong but fear I am not.
I would assume HP is still focused on Meg's inverted pyramid work force (too many older employees.) EER is a way to move them out although hanging in there is generally the better deal for the employee unless you are within a year or two of SSA age or Medicare.
Either way, HP has to change. Extract everything you can from the company while it does.
Idaho Statesman Article: https://www.idahostatesman.com/news/business/article236018223.html
View in private/incognito.
My guess is if you count contractors there are about 2200-2300 left in Boise. Most of the major functions are being moved to India/South Korea/China. HP initially had a 7 year lease but reduced it to 5 this last year. Does not look good for Boise.
No, the result is few people move and HP gets an automatic cut in staff. They've done that at other sites. At one, they considered only 10% agreeing to move as a resounding success. They literally celebrated.
"Easily move everyone to Houston" :-)
That may cost more than the board is willing to spend.
Does anyone know the Boise HP population count? (of course it will be smaller after the coming layoffs, EERs, and other attrition)
They could easily move everyone to Houston.
Care to cite a source that says the state will not leaseback to HP 2022 and beyond? Because every source cites the contrary.
hhx: Thanks for your reply. But there is a flaw in your explanation that Boise can just renew their lease. No, they can’t. The State wants all buildings and strong indications are they will not offer it to HP.
So if HP stays in Boise they will need to find a new home. That ain’t gonna happen.
Not sure if "credible" is correct. Boise, like most (if not all) other HP sites are leased. Just because they have a lease that's up in 2022 doesn't make it true. They simply renew the lease, just like all the other sites do. These aspect means nothing.
The A4 business does seem to be in flux, but it's clearly speculation to infer that Boise won't be involved with R&D of any sort. The A4 business is also pretty varied (and very important) and Boise is a hub for certain manufacturers.
From HP's perspective Boise is actually a very cheap place to operate.
If Boise "closes" in 2022, they certainly wouldn't be the only ones, or the first. So I would treat this as speculation.
I hope Boise closes. Th e employees there were salty AF -hated working with them.
It is credible insider speculation.
Considering the nature of the A4 business, the recent (and upcoming) layoffs, and the soon to be expiring Boise site lease, my money in on total shutdown.