Publisher Penguin Group should stock up on at least 24,000 copies of Who Moved My Cheese? after Hewlett-Packard’s (HPQ) announcement Monday it will lay off thousands of workers over the next three years.
HP made its name as a computer and printer maker. So when it said in April it was buying Electronic Data Systems (EDS) for $13.9 billion, investors and the industry questioned the company’s judgment. EDS specializes in services including data centers and networking, rather the opposite of what HP does. On Sept. 15, HP went before shareholders to justify that acquisition. Newsflash: the company will save nearly $2 billion.
But to do that, it will cut 24,600 jobs.
We’re pretty sure this isn’t what Cheese author Spencer Johnson meant when he wrote, “When you change what you believe, you change what you do."
Sources:
San Jose Mercury News: HP to cut 24,600 jobs in EDS integration
Reuters: HP to cut 24,600 jobs; takes $1.7 billion EDS charge
CNET: HP’s Hurd on EDS, job cuts
Bloomberg: Hewlett-Packard to cut 24,600 in EDS integration
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