I don't know the extent of it all but today is the 2 weeks until Nov 1 before HP's new year starts and they are doing a bunch of layoffs today. I was one of them. The Poly side is being hit hard in sales and sales engineering. It seems that HP isn't all that interested in the UCaaS service providers and doesn't pay much attention to the phones either. It will be interesting to see if HP sells it off or what happens. The project management teams for the devices was hit good about a month ago. It's a sad day for many especially when it's the end of the year for many companies out there.
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"Industrial Print is hiring like there is no tomorrow."
True, that division is doing very well.
Had layoffs in late September/early October '23 on the Elite Support floor in NM and it seems like the elite support organization has moved to India.
If you live in the Houston area, there seems to be a lot of jobs right now. It had been pretty quiet until last week and now my email is blowing up from recruiters.
Industrial Print is hiring like there is no tomorrow.
More like: their last straw is when HP Print revisits that Xerox sale from before covid.
Print org is literally just HP's gambit and Achilles Heel. There's probably a good reason why Dell got out of that business.
Got laid off on 10/16, Managed Print. Half team gone.
Layoff is the one and only trick left for this company C-suite. The last straw is splitting PRint and PC into 2 companies. When that is done, that's the last mile of this legacy company.
Are any layoffs expected in Managed Print? I know we lost a lot to the early retirement package offering, but I know that the group isn't meeting targets (mostly due to messed-up internal processes).
"Enrique's layoff plan from 2022 to 2025 is definitely seeing signs of acceleration, which indicates that the company likely miscalculated the severity of the economic situation. PC market is in for a bumpy ride. Many many many forecasts out there are predicting extremely slow growth for HP from now until 2026."
How could HP leaders have been expected to realize that selling a PC to everyone under the sun during Covid would impact the future sales cycle?
"Poly side is being hit hard in sales and sales engineering. It seems that HP isn't all that interested in the UCaaS service providers and doesn't pay much attention to the phones either. It will be interesting to see if HP sells it off or what happens."
Old trick by CEOs who can't create genuine growth: by other companies with debt to show that the CEO has created revenue. See the HP long-term debt growth under Enrique. Buffet apparently paid attention and started by selling of 1/3 of his shares.
There is no margin in PC sales and customers are revolting over HP+ and Instant Ink (see the latest class-action lawsuit).
I got laid off a few weeks ago on Sept. 29th. My manager said this wouldn't be the first round of layoffs. I did hear about layoffs starting today and later in November.
I was part of CMIT. Heard ACS is getting let go starting today. DnA is also getting hit. Those are confirmed with people that I actually know in those organizations. I was told by someone at Poly that they're struggling to get resources, despite them using R&D resources from CMIT.
Enrique's layoff plan from 2022 to 2025 is definitely seeing signs of acceleration, which indicates that the company likely miscalculated the severity of the economic situation. PC market is in for a bumpy ride. Many many many forecasts out there are predicting extremely slow growth for HP from now until 2026.
Good news that the job market is healthy. This is something I've mentioned in previous posts on here but I really do think people who get laid off will be able to find a new job soon. I've had probably had seven interviews ever since I got laid off.