I saw the story in DIGG.com HP to cut nearly 25,000 jobs by 2011 money.cnn.com — HP to cut nearly 25,000 jobs by 2011
Computer maker to trim 7.5% of its payroll with half of cuts coming in the United States as it integrates outsourcing giant EDS.
Computer maker Hewlett-Packard said it will lay off 24,600 employees, or 7.5% of its workforce, over the next three years in a plan to integrate tech outsourcer Electronic Data Systems, which HP bought late last month. HP said the workforce reduction will result in annual cost savings of about $1.8 billion. Of the nearly 25,000 layoffs,
I could not believe; I got the mail FWD; below is the mail;
The fact that IT companies are in some tight spot has been evident from some time now. This is once again the season when employees are dreading the color pink. Satyam Computers has just started giving pink slips to its employees and around 4,500 of its employees are scheduled to get the boot. Wipro Technologies has put about 4-5% of its workforce or about 2,400-3,000 employees, under the scanner for non-performance. In February, TCS had given pink slips to 500 non-performers. IBM India also asked about 700 employees to leave, citing non-performance. In July, Patni Computer Systems fired 400 employees.
If the going is tough for these bigwigs, what about those in the lower rung? Mid tier companies are also doling out pink slips in all generosity! Hexaware has reportedly booted out 500 people and this does not include the 130 employees to be laid off due to the shut down of its office in Gurgaon. Ramco Systems laid off 142 employees.
Message from CEO, Mark Hurd
September 15, 2008
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