HP OFFERS SOME EMPLOYEES BUYOUT PACKAGE

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HP OFFERS SOME EMPLOYEES BUYOUT PACKAGE

 user 2005-04-20 at 11:51:00 am Views: 48
  • #8994

    HP offers some employees buyout package

    Hewlett-Packard is offering a voluntary-separation package to some
    employees in its imaging and printing unit through the end of the week as part
    of a plan to shift employees to higher-growth areas.

    The Palo Alto, Calif.-based company is trying to reduce staffing levels in
    areas such as black-and-white laser printers, inkjet printer manufacturing and
    single-function inkjet printers, spokeswoman Monica Sarkar said.

    The move is part of a restructuring plan announced in November, for which HP
    took a
    $200 million charge. HP had spent $60 million of those restructuring funds in its last
    quarter.

    At the same time, the company is trying to expand in areas where revenue
    growth is higher, including digital entertainment, digital photography, color
    office printing and digital publishing with its Indigo product line, Sarkar
    said.

    Depending on results from the voluntary program, HP could also reassign or
    lay off employees later. The buyout offer began April 1 and closes on Friday. HP
    didn’t disclose details or how many employees received the offer.