Thread regarding HP (Hewlett-Packard) layoffs

4% match for 401k now

2. 8%

got only a 1% increase here in the UK, likely because I refused to return to the office. My boss seems to dislike me, and being a foreigner doesn’t help, as discrimination still feels present in certain spaces.

What was everyone’s raise increase percentage? 4% here.

Ex HP employee here., WF'd by Carly F. I recall when HP used to match up to 10% for 401k and or stock HP purchase. Does HP still offer this? I doubt it! Mid 90's the IRS started taxing the HP stock match/contributions quarterly after the two year restricted release @ market value which su-ked!. In 1995 profit sharing was around 15% so HP announced the shareholders were not happy "giving away" so much money to the hard working employees, so HP basically cut the PS formula in half moving forward. Not the first time HP had reformulated PS. Sounds like HP did away with PS? I worked for HP over 17 years, I used to buy HP products, but not anymore. HP is poor quality, unreliable, sneaky coding (Print heads/dates/ink volume, etc). The founders, Bill and Dave wouldn't even recognize what is called "HP" these days. They never really cared for computers and now the only HP - labeled equipment is computers and printers. The real core HP products were spun off, Agilent/Keysight, and etc. Corporate greed, off-shoring, and etc. is taking it's toll on the American people!

I’m not expecting a darned thing as far as a bonus goes.

Apparently the stock awards are not for everyone, few selected people are going to get, so it is not substitute for this year Bonus .

For those confused, this is essentially a hostage situation, and is about the same value as getting no bonus at all.

Essentially, you’ll get restricted, sh---y, stocks from a loser company (HP) that will pay out if you stay future ready and don’t leave this he-l hole.

It’s essentially HP showing the world they are broke.

Typically companies give monetary bonuses. But here, no. HP is more poor than the vet you see at the signal night begging for money.

HP: "Please oh please Microsoft, force people to upgrade their PCs. Print is failing!"

–19% free cash flow YoY...

–18% on operating "activities"...

$2.81 diluted GAAP, down from !!!$3.26!!! YoY... with FY2025 guidance of $2.62 to $2.72, signaling a further decline.

Ouch... It's painfully obvious that they're spending money where they shouldn't and how many people have been let go respectively. HP is once again, making terrible financial decisions and spending money on who knows what. Seriously HP, what.... what is going on here?! I'd be pööping my pants if I was your investor. I guess AI wasn't as exciting as you made it out to be, huh Enrique?

I wasn’t expecting anything crazy for a bonus but I was expecting better than the last two years. HP did okay overall and some businesses hit goals. But they’re still giving the same cr-p bonuses were saw the last two years and basically what amounts to an IOU if they don’t lay you off.

"Typically RSUs are used as a long-term benefit to keep employees but are also at the same time, a bonus. Using them as a bonus only is interesting."

Ah, but here is the catch my friend if you read the email carefully about the "continued employment" amid all the layoffs:

"Employees will vest in (gain access to) one-third of their shares each year over the next three years, subject to the conditions in the grant agreement, including continued employment with HP through each applicable vest date."

For those confused, this is essentially a delayed bonus, and is better than no bonus at all.

Essentially you'll get restricted stocks of an unkonwn value that will pay out 3 times, but you have to wait a year (2026) for 1/3 of the payout to happen. The RSUs will "grant" to you in early 2025, but it's not "money" yet.

It's a essentially a deferred bonus.

Typically RSUs are used as a long-term benefit to keep employees but are also at the same time, a bonus. Using them as a bonus only is interesting.

I’m a CW so this doesn’t apply to me and I won’t get anything. I didn’t even get the email. So what should I be happy for?

At least we get something. Be happy for anything

As long as Enrique can afford to supplement his luxurious life, I’m okay. We go to work for him, not us.

I am so sry thomas/HR. You’re right we should be thankful for anything and nothing! Let’s strap up our boots and get to work!!!!!

For years I worked at companies that never offered a bonus, and that seemed normal. A bonus is that...a bonus, where if things are good and the company can afford it, it gives a bonus. Above and beyond what your normal salary is. When you signed on did it say somewhere in the paperwork that you get a bonus? My first ever bonus was 25 years into my career where they put a few thousand into the 401(K) for us. Then the next company was like wow..10% bonus every year? What I am saying is did you goto work for a place because there was a bonus? Now for the last 5 years my bonus has been small, but the work is good and the salary is great. So a bonus? It just goes into my investment accounts, because you should be investing into your own future.

Can someone explain like I work at hp?

Who tf even wants HP stocks?? Worthless and this sh-t hole won’t be around too long.

It says " supplement" not "replace". There will be a bonus - a tiny one. And a very tiny quantity of stocks.

The email simply means no bonus for employees, the C-Suite is find.
Enrique will spend all the cashflow on stock buybacks and dividends--watch his interview.

"HP utilized $2.1 billion of cash during fiscal 2024 to repurchase approximately 62.7 million shares of common stock in the open market."

I am so sad reading this.