June 21st, 2006
Slow News Day
Apparently, two Hewlett Packard executives had the following conversation.
Exec One: Nobody is paying much attention to us. It’s a slow news day.
Exec Two: Just recycle a press release from last year.
Exec One: Great idea!
Here’s the story:
HP today said it would lay off 15,300 workers by liquidating its global operations group and spreading it around to its business groups, the latest in a streamlining plan to make the company leaner and meaner.
Wow! how bold. Then you get further down into it and see:
The move is the latest step in a July 2005 turnaround plan by Hurd to provide a simpler reporting structure with fewer management layers, reduce costs and focus on serving customers.
That’s summer for you.
Like this article? Why not try out:
[…] However, we were all amused by Trent’s slow news day at Stock Market Beat. […]
[…] Packard Hewlett Packard (HPQ - Annual Report) shares were off slightly after reporting that earnings beat consensus estimates - if you arewilling to view their recurrent restructuring charges as non-recurring. While they have had their share of troubles this quarter, you have to hand it to them for reporting at all, the way things are going in tech-land (with everyone either delaying their report or giving partial data while being investigated by the SEC.) […]