Management informing employees of d-day happening next Monday amongst print. Will be 10% of workforce. Several around me hit.
6 replies (most recent on top)
Considering the overall attrition goal, the EER take rate is rather insignificant. So HP now needs to move to the WFR process.
Yes, 2020 will chop the bulk of the 9000 as soon as possible. And from the company perspective the sooner the better. It makes no sense to keep people around when there is no value to their work. Couple this with several facts and you can see the point:
1). 3D and Industrial print are the future. Or so the thinking goes, so all investment is channeling there.
2). The declining Traditional print market is not something HP wants to fund. If you are in this business your ticket is about to be punched, especially if you are in the USA. All future A3 and A4 activity will be in Singapore or South Korea. OR see #3:
3). Some sort of Xerox/HP deal WILL happen. Regardless of the particular structure, tens of thousands of employees across both companies will be axed. Any remaining business will be subject to #2 above.
4). The infamous HP/Compaq acquisition was one of HPs largest mistakes. Although the PC aspect of HP generates income, it is basically a commodity product and is inconsequential to the discussion. PCs will either shut down or be spun off to Lenovo.
5). Summary: Tradition office print and PCs are past their prime and do not generate enough profit to warrant the investment. Both businesses are being cut out of HP and everyone connected to them is walking on very thin ice.
Heard a lot of people learned Wednesday if they were named to the new org chart.... and Thursday and Friday people were given heads up they will be WFRd officially this Monday.
Is the number of layoffs for January 2020 as big as some are saying? A huge chunk of the 7-9k total ate happening this month? Sad to see so many employees keeping their heads down out of fear. So many great workers are being pushed out.
Even Vancouver will be hit and then they will move people from the other sites in.
As stated, this is nothing new. Thousands will be fired over the course of 2020.
Many of the EER positions are not being back filled, and most of those that are replaced will be CW.
Not sure about all sites, but Boise will be hit hard. Staffing will be managed at bare minimum levels; just enough people to get what little work that is left done until HP vacates the premises in late 2022.
The upcoming new Vancouver site is probably the best place to be if you want to stay with HP longer term.
Any idea which locations are hit hardest?
This has nothing to do with the Xerocide. This is part of the job cuts communicated months ago, and it won’t be 10% all at once, but through the fiscal year.