HP to cut 24,600 jobs as part of EDS integration

HP to cut 24,600 jobs as part of EDS integration

www.physorg.com

Hewlett-Packard Co. said Monday it plans to slash 24,600 jobs over the next three years, nearly 8 percent of its work force, as it combines operations with Electronic Data Systems Corp., the technology-services company it recently acquired.

Most of the cuts will come from within EDS's ranks, and nearly half will hit jobs in the U.S., HP said Monday after the markets closed.

(visit the link for the full news article)

This is terrible! 24,000 lost jobs. This is in the wake of Wall Street Crisis. What will be next. If things keep up like this today, I will go to sleep very uneasy tonight. If HP is slashing jobs, who's next! Its nearly 7.5% of their workforce. Tomorrow will not be a good day I think.

*I confirmed the article on CNN, but they did not have a article, only a breaking news ticker, I will post more as they come in.*

www.physorg.com
(visit the link for the full news article)

Where is most of EDS's production crew?

If it's overseas, then it makes sense really.

Companies aren't nationalistic, and rightly so, they do what is necessary to ensure their survival. If the country they are based out of is about to sink... they will naturally seek ways to move their operations elsewhere.

If EDS already has it's production crew outside of the country, HP will naturally chose to use them over their own US based production crew to ensure the company has a better chance of survival in the event that the US sectors die.

reply to post by johnsky


Exactly, that's what I intially thought, since most large tech companies have their workforce overseas, but in the article,

and nearly half will hit jobs in the U.S.,

That is still a lot of jobs in my mind. In my area, people worry when people lay off more then 100 jobs. This is all trickle down from today's market fall, and it will begin happening all over again.

I just watched my most of my college tuition today go down the drain, and I'm watching the markets, since, this will not be fun.

notice how no government workers ever lose there jobs no matter how bad things get..i for one think its to make people disparate enough for a job\money to join the army....