HP workers oppose merger in poll by deal opponents
SAN FRANCISCO, Feb 20 (Reuters) - Hewlett-Packard Co. (NYSE:HWP - news) workers in a survey sponsored by opponents of the Compaq Computer Corp. (NYSE:CPQ - news) merger opposed the $21 billion deal, conflicting with results of a similar survey by HP, the pollster said on Wednesday.
The survey, financed by David W. Packard, the son of HP founder's, showed 63 percent of HP workers in Corvallis, Oregon, a town dominated by HP's printing division, opposed the deal and 31 percent were for it. Another 6 percent had no opinion.
Employees' attitudes are a crucial test of the deal and an emotional flash point, since HP prides itself on its community-style management and worker opposition to the deal would make the integration of Compaq even tougher to pull off.
David W. Packard has criticized HP's internal surveys as well as the deal, which would involve major layoffs that he says do not fit with the company's culture.
The results of the Packard poll by Field Research Corp. of San Francisco conflict with Hewlett-Packard's December poll of workers in Corvallis and in Vancouver, Wash.
In HP's survey after visits by Chief Executive Carly Fiorina -- and shortly after the Packard family foundation holding 10 percent of HP stock decided to vote against the merger -- the deal garnered the support of 76 percent of 1,398 Corvallis and Vancouver employees.
Another HP-sponsored poll ended in January and intended to sample a representative group of the entire company showed 65 percent support the deal, the company said.
Spokeswoman Rebeca Robboy in advance of the expected Packard survey said it was not a fair view of all employees.
``Regardless of the outcome, Corvallis does not represent the global employee population. It is a community of employees in our imaging and printing business,'' she said.
HP employees hold only a few percent of the company's stock, but both sides are scrambling to marshal votes ahead of the March 20 HP shareholder vote.
The strongest opposition to the plan came from long-time HP employees, those aged 40 or older and those who say they are following news about the merger closely. The most frequent reason given for opposing the merger was concerns that Compaq's PC business doesn't add enough value. |
