HP truly used to be the best company in the world to work for (I remember those years), with extremely high employee retention and loyalty. "The HP Way" was the glue that held the company together and made it so unique and such a fun place to work. It taught employees rules of conduct and created the blueprint for bringing revolutionary products to the market.
Carly Fiorina changed all of that, and the rest of the CEOs have followed in her footsteps. They longer care about innovation which made HP so great, but focus on returning the cash flow to themselves and taking on big debt to repurchase shares (Enrique himself always talks about returning the cashflow to shareholders). HP no longer hires the best and most motivated employees, but mostly hires and retains based on nepotism and cost factors despite some being highly toxic individuals who are the antithesis of the HP Way.
For those of you who don't know, the former Print Vice President (Richard Hackborn) was groomed to be the next CEO. HP owes the entire print business to Hackborn and his stunning leadership. But he just did not want to leave Boise and move to Palo Alto as the next CEO, and did a very hasty job interviewing Carly Fiorina (the first outsider to be given the CEO role at HP). At the time we learned that he spent only two hours talking to Carly at the Boise airport before making his decision.
When Hackborn told the rest of the board that he felt Carly would be the right CEO then everyone else agreed, and disaster followed. Hackborn demonstrated incredible leadership and ingenuity at HP Print, but undid everything he had done by selecting Carly who had never even been a CEO before.
Carly had a very bad track record at Lucent which was not hard to uncover. Lucent would provide loans to their customers to buy their own products, and when the customers went under during the recession so did Lucent with its bad loans. Carly had a big role in that.