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Wednesday, August 28, 2002 |
HP works to reverse its PC slide. The computing giant, facing an eroding slice of the PC market, says it intends to reverse the downward trend in the coming fiscal year. [CNET News.com]
However, HP is beginning to see success with taking more of its business direct, a move that should boost profitability as well as market share, Wayman said. Another key to profitability is lowering component costs, he said.
Although HP has pledged to return the PC business to profitability by the April quarter, the company has not said when its server and storage business might regain profitability.
"It's going to take a little longer," Wayman said. "It's the most complex of all of our businesses."
10:12:06 AM 
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HP hits Q3 targets, shoots for same in Q4. Carly Fiorina, chairman and CEO of Hewlett Packard Co, is probably not breathing a huge sigh of relief now that the merged HP and Compaq has hit the financial targets that the company set for its fiscal third quarter of 2002, Timothy Prickett Morgan writes.
While there is some credence to the idea that you have to look at how a company's core business is performing in isolation from the tumult caused by mergers, acquisitions, and charges, the fact remains that HP lost 67 cents a share in the quarter according to accepted accounting principles. Such losses are real, and they affect how companies behave and how their customers, competitors and credit rating agencies treat them. [The Register]
The news is bad indeed. I certainly didn't expect such a huge loss. Pro forma numbers are a touchy subject I'm sure. Affecting the loss was the writeoffs for layoffs. Huge. And with only 4,400 jobs cut so far, another 6,000 are on the way to meet the target of 10,000 by October 31, 2002. I thought it was tough now. It's going to get even more scary.
This is the first time in my 15 year career at various companies that I've really had to fear for my job. Never have I had to worry about large layoffs. It's not fun.
9:12:16 AM
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© Copyright 2002 Paul Leclerc.
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