Yesterday Hewlett Packard Inc. has announced that it has future plans to cut around 25,000 jobs over the period of three years. It is going to combine its workforce with EDS (Electronic Data Systems), the company HP has recently acquired. Still the figure is not clear how many employees of the combined company would lose their jobs. Before the acquisition of EDS, HP had 178,000 people and EDS had 142,000, a total of 320,000. So what I believe out of 3 lakh 20 thousand employees, 25 thousand will lose their job in the next three years. This layoffs will likely to streamline the combined company’s services businesses result in annual cost savings of approximately 1.8 billion dollars for HP.
This acquisition took place in August, this year. World’s leading software giant HP bought Texas-based business services outsourcing company EDS in August for 13.9 billion dollar. The aim of this acquisition is to compete against the growing challenges from IBM in the field of software services. Actually job market follows the age old Darwin’s theory “Survival of fittest”. For any job in today’s corporate world, you have to be best otherwise you will have always fear of getting fired.
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