This time it’s H-P:
Hewlett-Packard Co. is in the process of laying off at least 150 Vancouver workers, and possibly more than 200, as it scraps its local Edgeline printer team and shrinks other engineering groups.
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HP “is shifting prototype testing, as well as some work on research designs, engineering specifications and drawings, abroad, including to Singapore,” according to U.S. Department of Labor documents. This inkjet lab move will affect at least 52 Vancouver employees, a labor official said.
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Employees of HP are taking the news as a blow, especially following reports by the Reuters news agency that Hewlett-Packard Chief Executive Mark Hurd received compensation of $42.5 million in 2008.
While the news is not unexpected, as it’s well known H-P has been in the process of destroying the company trying to sell the Vancouver campus, the timing is especially horrible for Vancouver. Tax revenue and house sales will continue to suffer.
As for CEO compensation, I find it hard to believe Congress will actually do anything about it. Now shut up and enjoy your jelly of the month.
Last spring H-P gobbled up IDS, Ross Perot’s old company. I’ve got some contacts there, and I heard that the software engineers there are all being called upon to work with “outsourced” teams overseas. There’s some resentment that (a) the U.S. engineers are essentially having to re-do the work for them, and (b) it seems to be in preperation for transferring all their jobs overseas – the U.S. workers are essentially training their replacements.
Of course, there are those who insist that “nobody can do our job as well as we can”, and therefore presume they are indespensible. That presumes, of course, that management is more concerned about long-term quality issues than they are quarterly profit statements.
Fucking obonga!
Where’s the change!
I’m beginning to think that the Hungarian criminal who bought the presidency for Chimpy lied to us.
rhp spews:Of course, there are those who insist that “nobody can do our job as well as we can”, and therefore presume they are indespensible
“As for CEO compensation, I find it hard to believe Congress will actually do anything about it. Now shut up and enjoy your jelly of the month.”
What should congress do? Are we now going to allow the federal govt to dictate salaries and contractual compensation in public companies? How about private companies? Just CEO’s or all employees? 42.5M is a big number..Wonder what he paid in taxes?
Cynical @ 3: Did you mess up your block quotes? It seems that you are attributing your comments to me, and vice-versa.
What, the right wing clang factory has issued instructions to bad mouth Soros now? The subject of the day at Fox can be monitored simply by reading the Wingnut posts here.
If we don’t have jobs, if we don’t have an income, what good are tax cuts?
Roll back the Reagan tax cuts, let’s have the rich sacrifice a bit for the sake of the country? Are not the rich patriotic?
LOL Right Stuff…42.5 Mil is a nice sum of money…as far as how much did he pay in taxes?…I’ll bet proportionately much less than most Americans.