Friday, May 18, 2012

Wall Street Journal: "H-P Chief May Cut 30,000 Workers"

May 18, 2012 p. B1

Majia's summary: This proposed cut would constitute about 8% of their total workforce.

The article is interesting because it lists other big cuts that have occurred over the last few years:

Citigroup Inc cut 50,000 workers in in Nov 2008

General Motors cut 47,000 workers in Feb 2009

Circuit City cut 34,000 in Jan 2009

Bank of America cut 30,000 in Sep of 2011

Cisco cut 6,400 in 2011

Majia here: Very few works are needed in the emerging neofeudal system

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