While we never want to hear of massive layoffs unfortunately in a capitalistic economy it is sometimes necessary. It seems that Meg Whitman is taking the drastic steps that are necessary to revitalize HPQ, and make them a lean enough enterprise to right their financial ship. HPQ has some strong businesses with adequate returns on invested capital and a valuation that is too cheap to ignore. Now the company needs to execute and show a stream lined focus on improving profitability, as opposed to the disjointed mess that has transpired ever since Mark Hurd left. We are long HPQ due to the valuation and I think it is a stock that could double over the next 3-5 years.
http://online.wsj.com/article/SB10001424052702303448404577410403669187054.html?mod=business_newsreel