HP's Stock Price Climbs Amid Rumors Of Massive Layoffs

Thu, 05/17/2012 - 19:41 EDT - Seeking Alpha

By Matt Burns
HP is reportedly going to be announcing massive layoffs next Wednesday. Conflicting reports state somewhere between 25K and 30K jobs, between 7% and 8% of HP’s global workforce, could be eliminated in an effort to absorb losses from decreasing demand for the company’s products and services. The cuts could happen over the next year, rather than a mass layoff, according to AllThingsD who also state that the total number is still undecided. Wall Street is reacting positively to the news. HP’s (HPQ) stock price dropped shortly after the news but quickly recovered and started climbing with word of the restructuring. During the writing of this post, the stock price dropped slightly but is still up for the day. If true, this is the latest of new CEO Meg Whitman’s drastic changes within HP. When she took over for Leo Apotheker, she nearly immediately announced that HP wouldComplete Story »

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HP's Stock Price Climbs Amid Rumors Of Massive Layoffs

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