The hottest HP global layoffs spread to China, cut

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In September this year, HP CEO Mark Hurd said that he planned to cut 24600 jobs in the next three years, accounting for about 8% of the total number of employees.

Wang Qiang (a pseudonym), 27, is a marketing manager of HP in Northeast China. He came to HP from another foreign company through strict selection last summer

with good performance for more than a year, he finally got a foothold in the company. Recently, he suddenly felt worried. The matter originated from an internal e-mail about HP China's massive layoffs

On November 7, manager Wang came to the office as usual to open the mailbox and found an e-mail from a colleague entitled FY09 SMR deploymen lack of a strong national research support system t plan (2009 sales representative employment plan). The first line of the email also says delete after reading it. The content of the email is:

1 At present, all staff meetings, training, awards, etc. of HP (HP) are cancelled

2. Financial reimbursement inspection is quite strict

3. Stay at home Express Hotels are encouraged for business trips (in fact, the accommodation limit for each person is 470 yuan/day)

4. If the positions required involve business trips, the two cities should be able to travel back and forth on the same day

5. Lenovo and other companies lowered their sales targets for 2009 (you can see it on the Internet); On the contrary, HP increased the sales target, and the company also confirmed that it could not achieve the target (in fact, it was an operational means of reducing salary)

the appendix is the annual SMR (Sales Representative) recruitment plan. The general principle is that HP will retain a total of 140 sales representatives nationwide next year, divided according to the share of each region; The number of exceeding the upper limit of each region needs to be approved by the headquarters. When arranging SMR, please consider the way that SMR will not arrange accommodation even if it has a business trip

according to the employment plan in the attachment of this email, HP will cut 48 sales representatives in China. Except for the increase in personnel in Beijing, Guangdong and Shanghai, there are 15 layoffs in other regions, of which the largest layoffs are in yu'e District, with a total of 15 layoffs. Although the original one in this region is still used in some places, 9 layoffs. In addition, five, five and seven people were laid off in Fujian district, Yunnan Guizhou district and Hunan Jiangxi district respectively

Wang Qiang has just been laid off four assistants. At present, none of the nine marketing managers in his branch has left, but he said that now they are also panicked. Although they may not be laid off, reducing assistants will inevitably increase the workload of managers, which is equivalent to a disguised pay cut. Wages have not been reduced, working hours and workload have increased significantly, and overtime is more frequent than before. In fact, the most worrying thing for managers is not just layoffs and salary cuts, but that the world-class American company first felt the impact of the financial crisis

In September this year, HP CEO Mark Hurd said that he planned to cut 24600 jobs in the next three years, accounting for about 8% of his total employees. The trigger for this layoff was that in August this year, HP completed the acquisition of EDS at a price of $13.9 billion. Generally speaking, mergers and acquisitions of large enterprises will inevitably bring business integration, and business integration will naturally lead to large-scale layoffs. As for the layoff plan, HP said that the layoffs would mainly target the overlapping administrative and operational management departments of HP and EDS, and half of the layoffs would be in companies in the United States

the total number of employees of the company after the merger of HP and EDS is 325000, including 178000 original employees of HP and 142000 original employees of EDs. Faced with such a huge number of employees, HP said that layoffs would streamline the service business of the merged company. And once the restructuring plan is completed, the company can save $1.8 billion in costs every year, and the saved funds will be invested in HP's business development in other fields. In addition, it is also reported that HP is considering selling the industrial park in Vancouver and then renting it back from the buyer

there has been a precedent in HP for large-scale layoffs after mergers and acquisitions. In 2001, Hewlett Packard, the second largest player in the computer industry at that time, acquired Compaq, which ranked third at that time. After the merger of the two companies, the company's operating revenue directly caught up with IBM and left its competitor Dell far behind

after HP acquired Compaq, it immediately triggered a global layoff storm, and about 15000 to 20000 employees were laid off in the first round of layoffs. And because HP and Compaq have a large number of businesses overlapping in the Chinese market, this has also led to the unemployment of many Chinese employees in this industry's large-scale mergers and acquisitions

HP's acquisition of EDS is strikingly similar to HP's acquisition of Compaq. HP completed the acquisition of EDS, and then became one of the companies providing the widest range of products, services and end-to-end solutions in the industry. This acquisition will make HP the second largest IT service provider in the world and is expected to challenge IBM's position in the global IT service market

multinational companies are cutting jobs.

the financial tsunami that broke out on Wall Street this year has been reflected in the third quarterly report of American IT giants. On October 21, U.S. time, Yahoo presented a rather bleak third quarter report, with net profit plummeted by 64% to $54.3 million, or 4 cents per share, compared with $151.3 million, or 11 cents per share, in the same period last year

Yahoo also lowered its revenue forecast for the current fiscal year from $7.35 billion to $7.85 billion to $7.18 billion, and will cut at least 10% of its staff globally, about 1500 people

on October 23, Microsoft also released its first fiscal quarter report as of September 30, achieving a net profit of $4.37 billion. Its main goal was to increase varieties, improve quality and economic benefits. Its earnings per share was 48 cents, and its net profit increased only 2% year-on-year. Microsoft explained that the growth rate of sales slowed down due to the poor economic environment. Microsoft also lowered its earnings per share forecast for the current fiscal year from $2.12 to $2.18 in July to $2-2.10, and lowered its revenue forecast from $67.3 billion to $68.1 billion to $64.9 billion to $66.4 billion

in response to the pressure of weak sales and declining performance, many technology companies choose to cut costs by layoffs. In September, Hewlett Packard announced that it plans to cut 24600 employees, or 7.5% of the total number of employees, due to efforts to integrate the electronic information system business of the acquired technology consulting company. Michael Dell, CEO of Dell, also said that since last year, about 8900 employees have been cut globally, or 10% of the total number of employees

on the morning of October 6, eBay officially announced a layoff of 10%, or 1500 employees. The dismissed employees include 1100 employees from eBay's auction department and 400 employees from eBay's PayPal subsidiary. Analysts said that it was reasonable for eBay to make major layoffs in the auction department, which has a very slow annual growth. However, it was surprising that eBay was also relentless in its PayPal business department, which has an annual growth rate of nearly 50% and a market share far higher than the second place, googlecheckout

from a domestic perspective, foreign companies in China bear the brunt of the layoff storm. Recently, it is rumored that AMD has cut 500 jobs worldwide, affecting many departments of Chinese companies; Motorola laid off 3500 people worldwide, and the number of layoffs in Chinese companies has not been determined. In addition, a layoff list of 178 enterprises spread among white-collar workers in Shanghai recently, involving 22 multinational enterprises, 40 domestic large and medium-sized enterprises and 116 domestic small and medium-sized enterprises, causing panic among white-collar workers

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