SAN FRANCISCO — Hewlett-Packard reported sharply lower net income Wednesday and announced that it would lay off 27,000 employees in order to cut costs.
“We exceeded out previously provided outlook and are executing against our strategy,” said Meg Whitman, H.P.’s chief executive in a statement. “We still have a lot of work to do.”
The Palo Alto, Calif., company reported net income of $1.6 billion, or 80 cents a share, for its second fiscal quarter, which ended April 30. Revenue was $30.7 billion. In the comparable quarter a year earlier, H.P. reported net income of $2.3 billion, or $1.07 a share.
resistion
5/27/2012 5:40 AM EDT
Bad time to be CEO of high profile US company these days.
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DadsHouseedCtr
5/28/2012 1:59 AM EDT
Letter to the Meg Whitman, HP CEO
From: George McCasland george.mccasland@dadshouseedctr.org
Date: Wed, May 23, 2012 at 6:33 PM
Subject: Announced Layoffs
To: Meg Whitman *******@hp.com
Dear Ms. Whitman,
Dads House has free information that will be needed by many of those facing a layoff from your company.
I would like to suggest that HP send out a notification to all those people being laid off that if they have a child support obligation, they can get help from their state to have the order modified. That they need to make the official request the moment they have been notified they are listed for release, as it can take up to a year to get a hearing.
This is a right they have under the 1988 Child Support Enforcement Act, and is detailed in the Federal Child Support Enforcement Handbook for Non-Custodial Parents. Unfortunately, the states refuse to distribute the handbook, which is free from the feds. Here is the material from it.
http://ChildSupportRights.org
If you are willing, here is a small poster that can be displayed in the employee break rooms with the above link.
http://dadshousedocs.org/ChildSupportRightsAD.pdf
I hope you will consider my request, and perhaps have one of your assitants respond to confirm you have received it. You are experiencing some public relations issues right now with this decision, and this might help it.
George R. McCasland, National Moderator
Dads House Educational Center & Groups
http://DadsHouseEdCtr.org
Postscript:
Took me a while to find a contact address, and I cc'd it to their Craig Gomez, Media Relations VP, as a backup.
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RTewell
5/29/2012 10:26 AM EDT
Does anybody else find this a staggering number? I mean...27,000? Wow.
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Duane Benson
5/29/2012 12:59 PM EDT
That is a staggering number. I was glad to read in the linked to press release that they are planning on spending some of the savings in R&D.
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BicycleBill
5/29/2012 2:10 PM EDT
Wow, they say in the pess release that they are planning to spend some of the savings in R&D--I guess that must be true, there's no chance they are just trying to put a shine on the situation, is there?
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