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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: PCSS who wrote (1879)	10/8/2002 9:35:13 AM
From: Piotr Koziol	Respond to of 4345

CEO Says HP Ready for Dell Competition Tuesday October 8, 9:14 am ET LAKE BUENA VISTA, Fla. (Reuters) - Carly Fiorina, chief executive of No. 1 PC and printer maker Hewlett-Packard Co., said on Tuesday its integration with merger partner Compaq is on track, and that HP is ready to compete with Dell in the lucrative printer market. "We remain either at or ahead of our integration milestones," such as plans to cut 10,000 jobs by the end of fiscal 2002, Fiorina said in comments delivered at a Gartner technology conference here. Late in August, the Palo Alto, California-based company posted a $2 billion quarterly net loss owing to costs for the $18.7 billion merger of the two computing giants, which closed back in May. She also said that the company is prepared to defend its leading position in the lucrative market for inkjet printer ink cartridges, in light of plans by No. 2 PC maker Dell Computer Corp.(NasdaqNM:DELL - News), to enter the market. "The fact that Dell makes an announcement doesn't send us shaking in our boots. Our products have always needed to be competitive -- Dell's announcement doesn't change that in any way," she said.

To: PCSS who wrote (1879)	10/8/2002 6:03:06 PM
From: PCSS	Read Replies (1) \| Respond to of 4345

HP says hired 2,300 people since buying Compaq LAKE BUENA VISTA, Fla., Oct 8 (Reuters) - Technology company Hewlett-Packard Co. (HPQ) has hired 2,300 people largely for its printing and services divisions since it bought Compaq Computer Corp. on May 7, even as the company cuts jobs in other areas, Chief Executive Carly Fiorina said on Tuesday. "In places where we have been growing rapidly, we have been hiring from the outside," Fiorina said during a Gartner technology conference here. "We've hired since May 7 about 2,300 people from the outside. Much of that is in imaging and printing. But as well, a lot of that is in managed services," she said. For instance, she said, the company took on about 1,500 employees as part of a $1.5 billion technology and services deal it signed with Canadian Imperial Bank of Commerce (CA:CM) . HP also has been cutting jobs as it had planned due to its purchase of its one-time rival Compaq. Fiorina said that the majority of the 10,000 job cuts planned for this year will come in the fourth fiscal quarter ending Oct. 31. The company recently said it would cut 1,800 additional jobs on top of 15,000 previously planned after the merger, and Fiorina said on Tuesday that many of those new cuts will come from the enterprise division, which makes sophisticated computers, typically for large corporations. It is that division that was hardest hit during HP's most recent quarter. "What we're trying to do is pull our work force restructurings forward as much as we can," she said.