=== Retrenchment thread ===
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HP Increases Layoffs AGAIN To 55,000, And More Cuts Are Likely - Business Insider
HP Increases Layoffs AGAIN To 55,000, And More Cuts Are Likely
Julie Bort Enterprise Oct. 6, 2014, 11:42 PM
Meg Whitman HP
Reuters
HP CEO Meg Whitman
As HP cleaves itself in two, the company will also trim another 5,000 employees from its payroll.
And even that won’t be the end of a massive multiyear layoff that grows bigger every few months, HP CEO Meg Whitman essentially told CNBC’s Dan Farber on Monday.
HP first announced its layoffs plans in 2012. Back then, HP said it would cut 27,000. By June of this year, it had doubled the target, to 50,000, with 36,000 employees already gone.
On Monday, it bumped up the new layoff target, yet again, to 55,000. Even so, HP remains an enormous employer, with over 330,000 employees worldwide, and that means that when HP reorganizes itself, it will likely make even more cuts.
HP Increases Layoffs AGAIN To 55,000, And More Cuts Are Likely
Julie Bort Enterprise Oct. 6, 2014, 11:42 PM
Meg Whitman HP
Reuters
HP CEO Meg Whitman
As HP cleaves itself in two, the company will also trim another 5,000 employees from its payroll.
And even that won’t be the end of a massive multiyear layoff that grows bigger every few months, HP CEO Meg Whitman essentially told CNBC’s Dan Farber on Monday.
HP first announced its layoffs plans in 2012. Back then, HP said it would cut 27,000. By June of this year, it had doubled the target, to 50,000, with 36,000 employees already gone.
On Monday, it bumped up the new layoff target, yet again, to 55,000. Even so, HP remains an enormous employer, with over 330,000 employees worldwide, and that means that when HP reorganizes itself, it will likely make even more cuts.
highsulphur
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It's all figures until it happens to you in real life. Hard truth...
Oil & gas industries in the US are slashing job left and right:
And at this point, the job losses in the oil industry are threatening to become an avalanche.
#1 It is being projected that the U.S. oil rig count will decline by 15 percent in the first quarter of 2015 alone. And when there are less rigs operating, less workers are needed so people get fired.
#2 Last week, 55 more oil rigs shut down. That was the largest single week decline in the United States in 24 years.
#3 Oilfield services provider Baker Hughes has announced that it plans to lay off 7,000 workers.
#4 Schlumberger, a big player in the energy industry, has announced plans to get rid of 9,000 workers.
#5 Suncor Energy is eliminating 1,000 workers from their oil projects up in Canada.
#6 Halliburton’s energy industry operations have slowed down dramatically, so they gave pink slips to 1,000 workers last month.
#7 Diamondback Energy just slashed their capital expenditure budget 40 percent to just $450 million.
#8 Elevation Resources plans to cut their capital expenditure budget from $227 million to $100 million.
#9 Concho Resources says that it plans to reduce the number of rigs that it is operating from 35 to 25.
#10 Tullow Oil has reduced their exploration budget from approximately a billion dollars to about 200 million dollars.
#11 Henry Resources President Danny Campbell has announced that his company is reducing activity “by up to 40 percent“.
And at this point, the job losses in the oil industry are threatening to become an avalanche.
#1 It is being projected that the U.S. oil rig count will decline by 15 percent in the first quarter of 2015 alone. And when there are less rigs operating, less workers are needed so people get fired.
#2 Last week, 55 more oil rigs shut down. That was the largest single week decline in the United States in 24 years.
#3 Oilfield services provider Baker Hughes has announced that it plans to lay off 7,000 workers.
#4 Schlumberger, a big player in the energy industry, has announced plans to get rid of 9,000 workers.
#5 Suncor Energy is eliminating 1,000 workers from their oil projects up in Canada.
#6 Halliburton’s energy industry operations have slowed down dramatically, so they gave pink slips to 1,000 workers last month.
#7 Diamondback Energy just slashed their capital expenditure budget 40 percent to just $450 million.
#8 Elevation Resources plans to cut their capital expenditure budget from $227 million to $100 million.
#9 Concho Resources says that it plans to reduce the number of rigs that it is operating from 35 to 25.
#10 Tullow Oil has reduced their exploration budget from approximately a billion dollars to about 200 million dollars.
#11 Henry Resources President Danny Campbell has announced that his company is reducing activity “by up to 40 percent“.
retrenchment is good then we will have deflation
then all the buy car buy house with debt will have to force sell at cheap cheap price
those who tahan and keep mountain of cash will be able to buy assets at discount to valuation
i notice more and more shops closing down
keekeekee
then all the buy car buy house with debt will have to force sell at cheap cheap price
those who tahan and keep mountain of cash will be able to buy assets at discount to valuation
i notice more and more shops closing down
keekeekee
focus1974
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Property agents SELF-Rentrenchment... ..I think will see an increase in TAXI DRIVERS.
So.. BUY TRANSPORT COMPANIES!
Fewer property agents joining industry, more leaving - Singapore More Singapore Stories News & Top Stories - The Straits Times
So.. BUY TRANSPORT COMPANIES!
Fewer property agents joining industry, more leaving - Singapore More Singapore Stories News & Top Stories - The Straits Times
reinphd
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Contributing to the 'doom and gloom' mood here.
Uber disrupts taxi drivers
gogovan disrupts delivery men
Waiting for more ecosystem-disruptive startups
coolhead
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I think u r on the wrong thread.
Dreamworks cutting 500 jobs in restructuring
Dreamworks cutting 500 jobs in restructuring
Dreamworks cutting 500 jobs in restructuring
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