Tuesday, September 16, 2008
Layoffs Hit Silicon Valley: HP Today, Who Tomorrow?
Of course, the layoffs at Hewlett-Packard were expected, part its cost-cutting integration after the $13.25 billion acquisition of Electronic Data Systems Corp.
HP said yesterday that the 24,600 jobs the tech giant axed, or 7.5 percent of the total work force, were made to “streamline the combined company’s services” businesses.
But BoomTown has to wonder if other big tech and Internet companies might be looking at HP’s move and the current economic mess and wondering if it might be a good time to pare down a bit themselves, after a spate of overhiring.
