Shames makes the Black Panthers part of history
Syria: "Trump feeds military escalation"...
About John Pilger’s film THE COMING WAR ON CHINA
Fidel Castro, thorn in the side of United States’ hegemony
Huge demonstration in Berlin against the EU-US trade deal
Five innocents condemned to death
Reopening of the American embassy in Cuba
Albert Camus on Hiroshima. War journal of 8 August 1945
France should offer asylum to Snowden and Assange
Washington withdraws Havana from its blacklist of countries supporting terrorism
A Year of War, and Unity Recedes
NATO: Thousands of U.S. Soldiers on Russian Border
CGT Air France. All the violence dooms them.
Left Front keen to propose a new law against profit-driven lay-offs
Air France Axes 5120 Employees to Take Off Again
General Motors Dumps its Workers by the Side of the Road.
THE RUNOFF FOR THE RICH. THE RICE GRAIN POLICY
Resources: In Vittel, Water no longer Flows from the Spring
Laurent Brun says: “the next phase is privatisation of the SNCF”
Diplomacy from Atlanticism to Gaullism, Macron Embodies all the Lines
Alternatives to uberization of labour in the making
Free Trade. The Left unite against CETA
Denis Durand: "To change the behavior of banks, we must take control of them"
A Toxic Law, Poisonous to Health
Unemployment: 84 percent of French people do not believe in the drop
Taxation: Bercy softer on the definition of tax havens than Brussels
Agreement on fishing in Brussels
The 32 hour week, the best defence against unemployment
ORIGINAL FRENCH ARTICLE: Hewlett-Packard supprime 27000 emplois malgré des bénéfices
Hewlett-Packard Cuts 27,000 Jobs Despite Profitable Performance
Translated Monday 28 May 2012, by and reviewed by Derek Hanson
The management of the American tech giant, Hewlett-Packard (HP), announced 27,000 job cuts over the next two years. The group, however, is profitable with net earnings of about 1.5 billion euros…
After reading the communiqués and statements from the head of HP, you would think that the group was losing huge sums of money. Alluding to another sharp drop in the group’s earnings, Meg Whitman said that she is “cautiously optimistic”, saying that the decrease in computer sales to the general public was offset by the professional market. “Our results appear to be stabilizing,” but “there is still a lot of work left to be done,” mainly to improve performance in printer sales and services. Conclusion: “Reducing staff by 8%, cutting costs, and rationalizing are necessary in order to save money.”
But what exactly is the problem that is calling for such drastic measures? Net earnings of 1.59 billion dollars for sales revenue topping off at 30 billion. The shareholders are whining because their dividend will be a bit less than 1 dollar per share. In their mind, the situation justifies the 27,000 lay-offs. With 9,000 employees to be laid off this year, the target will likely be reached in 2014 and should “lead to annual savings between 3 and 3.5 billion dollars come the end of the fiscal year (end of October) 2014.”
It’s the largest wave of job cuts at HP since 2008, when almost 25,000 people were laid off after the acquisition of the services company, EDS.
