Seeking Alpha

leebahm1

leebahm1
Send Message
View as an RSS Feed
Latest  |  Highest rated
  • In tandem with its market-pleasing FQ1 report, H-P has announced its expected restructuring plan. The company plans to cut 27K jobs (8% of its workforce), a little above expectations, and says it will achieve $3B-$3.5B in annual cost savings by the end of FY14. The company expects to record a $1.7B pre-tax charge in FY12 related to the move (expect most of these costs to be excluded from non-GAAP EPS). HPQ +5.8% AH. (previous)  [View news story]
    Lay-offs and cronyism..oh, a novel combo. Meg Whitman is lucky though, and perhaps H-P will succeed on the theory that lucky often beats smart in the market!
    May 25 03:22 AM | Likes Like |Link to Comment
COMMENTS STATS
1 Comment
0 Likes