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.
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.
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.