HP-EDS Merger Gives EDS Employees the Pink Slip Heebie-Jeebies
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There seems to be little doubt that some of the more than 100,000 Electronic Data Systems employees worldwide will be cut from the payroll when Hewlett-Packard completes its merger with EDS, but the number is giving employees and union reps heartburn, according to the Channel Register. Officials from Unite, a union representing EDS employees in Europe, told the Register they've been left in the dark and fear the coming consolidation means looming unemployment. They're probably right. HP and CEO Mark Hurd have become skillful cost cutters. Fortune's Jon Fortt touches on the employee topic in his analysis of the consolidation.
The $13.9 acquisition was completed in August. Hurd, Ann Livermore, vice president of HP's Technology Solutions group, and Ron Rittenmeyer, CEO of EDS, will address the consolidation and post-merger plans for the first time Sept. 15 in a meeting with financial analysts. |
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Comments (1)
Given that HPs attitude to employee security,rewards and general well being is similar if not the same as EDS, I would suggest that the employees had better be searching for another employer. They can expect job insecurity for many years, along with the pay and bonus freezes, usual heavy workload and the absolute statutory minimum in the event of redundancy. To bad the marketplace isnt better, but a lot of companies these days are doing there utmost to cut staff and relocate the work to low cost (also low value in terms of innovation) economies. Not a decent reward for years of loyal and enthusiastic service. In future, look out for yourself and dont be gullible.
Posted by Don Jones | November 26, 2008 11:02 AM