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HP Will Cut Up To 6,000 Jobs Over Next Three YearsPosted by BeauHD on Tuesday November 22, 2022 @06:20PM from the large-scale-layoffs dept.Computer and printer maker HP said Tuesday it will cut between 4,000 and 6,000 jobs by the end of 2025 as part of a restructuring. Axios reports:CitarHP said the move will save it at least $1.4 billion annually by the end of fiscal 2025. However, it expects to incur $1 billion in costs due to the restructuring, with $600 million in fiscal 2023 and the rest split over the remaining two years. It made the announcement alongside its quarterly earnings report.As part of that report, HP said to expect per-share earnings of 70 cents to 80 cents, excluding items. That's below consensus expectations of about 86 cents per share, per CNBC.Further reading: A Host of Tech Companies, Including Coinbase, Robinhood, Lyft, and Stripe, Announce Hiring Freezes and Job Cuts
HP said the move will save it at least $1.4 billion annually by the end of fiscal 2025. However, it expects to incur $1 billion in costs due to the restructuring, with $600 million in fiscal 2023 and the rest split over the remaining two years. It made the announcement alongside its quarterly earnings report.As part of that report, HP said to expect per-share earnings of 70 cents to 80 cents, excluding items. That's below consensus expectations of about 86 cents per share, per CNBC.
Zoom Shares Plunge 90% From Peak As Pandemic Boom FadesPosted by BeauHD on Tuesday November 22, 2022 @09:02PM from the post-COVID-world dept.Shares of Zoom have tumbled about 90% from their pandemic peak in October 2020 as the former investor darling struggles to adjust to a post-COVID world. Reuters reports:CitarThe stock was down nearly 10% on Tuesday after the company cut its annual sales forecast and posted its slowest quarterly growth, prompting at least six brokerages to cut their price targets. The company, which became a household name during lockdowns due to the popularity of its video-conferencing tools, is trying to reinvent itself by focusing on businesses, with products such as cloud-calling service Zoom Phone and conference-hosting offering Zoom Rooms. Analysts, however, say any turnaround in the business is still a few quarters away as growth in its mainstay online unit slows and competition from Microsoft's Teams and Cisco's Webex and Salesforce's Slack gets intense."Zoom has a fundamental flaw -- it has needed to spend heavily to keep hold of market share. Spending to cling onto, rather than grow, market share is never a good place to be and was a sign of trouble ahead," Hargreaves Lansdown equity analyst Sophie Lund-Yates said. The company's operating expenses surged 56% in the third quarter as it spent more on product development and marketing. Its adjusted operating margin shrank to 34.6% from 39.1% a year earlier.
The stock was down nearly 10% on Tuesday after the company cut its annual sales forecast and posted its slowest quarterly growth, prompting at least six brokerages to cut their price targets. The company, which became a household name during lockdowns due to the popularity of its video-conferencing tools, is trying to reinvent itself by focusing on businesses, with products such as cloud-calling service Zoom Phone and conference-hosting offering Zoom Rooms. Analysts, however, say any turnaround in the business is still a few quarters away as growth in its mainstay online unit slows and competition from Microsoft's Teams and Cisco's Webex and Salesforce's Slack gets intense."Zoom has a fundamental flaw -- it has needed to spend heavily to keep hold of market share. Spending to cling onto, rather than grow, market share is never a good place to be and was a sign of trouble ahead," Hargreaves Lansdown equity analyst Sophie Lund-Yates said. The company's operating expenses surged 56% in the third quarter as it spent more on product development and marketing. Its adjusted operating margin shrank to 34.6% from 39.1% a year earlier.
Cita de: Mad Men en Noviembre 23, 2022, 18:58:31 pmNormalmente las sociedades están corruptas o podridas por la cúpula, o, en cualquier caso gran parte de los males vienen de las altas esferas. En cambio, y creo que por primera vez en occidente, la corrupción, podredumbre o distopías vienen de las bases. A dicho fenómeno el nombre de Popular-Capitalismo le viene "nikelao".Saludos.La corrupción viene de la zona alta de la pirámide igualmente, sólo que "en esta democracia que nos hemos dado entre todos, todas y todes" se ha permitido trincar a todo aquel que ha estado espabilao a las tendencias para que la rueda siguiera girando y porque la vivienda colateralizada da mucho de sí, como atestigua el impacto en los riñones de todo hijo de vecino.
Normalmente las sociedades están corruptas o podridas por la cúpula, o, en cualquier caso gran parte de los males vienen de las altas esferas. En cambio, y creo que por primera vez en occidente, la corrupción, podredumbre o distopías vienen de las bases. A dicho fenómeno el nombre de Popular-Capitalismo le viene "nikelao".Saludos.