HP Chopped 22,700 Employees Last Year; thousands more to come

HP is slicing jobs at a faster-than-expected rate. The company has axed 27,700 people from its workforce, out of the the 29,000 it plans to cut, it said Monday in an SEC filing.

HP originally announced the layoff plan in May 2012, saying it would cut 27,000 (about 8% of its workforce) and then, in September, said it would cut 29,000. HP also said the layoffs would happen very slowly, over about two years, ending at the close of its fiscal 2014 which is October, 2014.

Six months ago, in February, CEO Meg Whitman said HP had axed 15,000 employees, or was about half way done. But HP has also been warning investors in its SEC documents that the cuts could vary by 15% as it tries to find $3 billion in savings from its workforce. Read more >>

Poll: Angry U.S. Workers Intend to Look for New Jobs in 2010

What are these people thinking! With real jobless rates nearing Great Depression levels of 25 percent, they've a got a big surprise coming to them if they believe the job market will improve in 2010. They're lucky to have jobs, period.

Reuters
Nearly two-thirds of U.S. workers intend to look for new jobs next year, according to a poll released on Thursday that could indicate workers' frustration and discontent.

Sixty percent of employees polled "intend to leave" their jobs and 21 percent said "Maybe, so I'm networking," according to the survey by Right Management, a talent and career management consulting firm.

Just 13 percent said they planned to stay in their current jobs, it found. The remaining 6 percent said changing jobs was "not likely, but I've updated my resume."

"Employees are clearly expressing their pent-up frustration with how they have been treated through the downturn," said Douglas Matthews, president of Right Management, in a statement.

"While employers may have taken the necessary steps to streamline operations to remain viable, it appears many employees may have felt neglected in the process," he said. "The result is a disengaged and disgruntled work force."

Right Management, part of Manpower Inc, surveyed 904 employees, most of them in the United States, in an online poll between October 19 and November 5.