John Paczkowski

Recent Posts by John Paczkowski

New From HP: PinkSlipJet EDS Edition

Cost-cutting is one of my favorite subjects. We have quite a bit more to do.”

HP CFO Cathie Lesjak, Sept. 10, 2008

When Hewlett-Packard (HPQ) CFO Cathie Lesjak said she was fond of cost-cutting, she wasn’t kidding. On Monday HP announced plans to cut 24,600 jobs over the next three years as it digests Electronic Data Systems, the technology services giant it acquired for nearly $14 billion this summer. The job cuts amount to about 7.5 percent of the combined company’s total workforce, and most will come from EDS, whose bloated cost structure was in need of a good trim. HP estimates $1.8 billion in annual cost savings once the three-year program is completed. “I think most of you that follow us know I am a big believer that having the most efficient cost structure directly relates to your ability to scale and grow,” HP CEO Mark Hurd explained to securities analysts.

Incidentally, 24,600 sacked employees is a new record for Mark Hurd, whose first big act as HP’s CEO was a restructuring that eliminated some 15,000 jobs.

[Image credit: jischinger]

Twitter’s Tanking

December 30, 2013 at 6:49 am PT

2013 Was a Good Year for Chromebooks

December 29, 2013 at 2:12 pm PT

BlackBerry Pulls Latest Twitter for BB10 Update

December 29, 2013 at 5:58 am PT

Apple CEO Tim Cook Made $4.25 Million This Year

December 28, 2013 at 12:05 pm PT

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I think the NSA has a job to do and we need the NSA. But as (physicist) Robert Oppenheimer said, “When you see something that is technically sweet, you go ahead and do it and argue about what to do about it only after you’ve had your technical success. That is the way it was with the atomic bomb.”

— Phil Zimmerman, PGP inventor and Silent Circle co-founder, in an interview with Om Malik