Breaking News: HP to lay off up to 25,000 jobs as part of spinoff - http://www.reuters.com/article/2015/09/15/us-hp-redundancies-idUSKCN0RF2M320150915
10 replies (most recent on top)
I'm a white man and over 55 years old. I'll have double the hardship trying to get hired for anywhere near the same pay. Good thing I have no debt, no mortgage, owe nothing on three late model vehicles, and have 2 years of cash in CD's in local banks. My 401k balance is just over $1MM. If Chevron gives me my walking papers, they will give me a one-year severance "bonus" check and 6 months of COBRA Medical and 6 months of unemployment benefits from the State. Like a previous poster on one of these threads said recently; I hope you saved your money during all these working years. Luck of the Irish, good luck to all.
Chevron will be sure to layoff without too much legal backlash.
over 50 .white? Good Luck
As more firms cut employees from their payrolls, look for the job market to become even more competitive and average stating pay to come down. Sharpen up your resumes and hit the road early trying to find a good job.
Everybody knows you have to shrink to grow. Duh.
Many engineers are well paid and have substantial savings, I doubt that any of them will be selling houses soon. Also, techies are high in demand, they will find jobs quickly. It's not like O&G.... Once O&G goes down, everyone suffers and there is not place to hide from layoffs.
3000 houses on the market
By City Breakdown: https://www.thelayoff.com/hewlett-packard/post/6613470294310912
HP Cuts - Houston, TX (9.8% or 2,951 employees)
HP's CEOs - huh - First Carly now Meg - These women (both staunch GOPer's ) loot and burn companies. They have no clue how to do anything but extract extreme wealth in a race to the bottom. The only people who really win are the larger shareholders and the executives. Customers, the majority of shareholders and the employees all get screwed.