HP Undergoes Internal Changes

HP UndergoesInternal Changes

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*December 12, 2006* – Hewlett-Packard Co. predicts higher revenue for next fiscal year, despite this year which included job cuts, internal position changes, and a pretexting lawsuit settlement. 

HP, the second largest computer company in the world, forecasts its 2008 fiscal year revenue will total $100 billion, a first in the company’s history, according to a Reuters article published today.HP predicts that next year’s revenue will surpass this year by 4.6 percent.

HP Chief Executive Mark Hurd told reporters today that the manufacturer plans to further cut costs.HP has already spent $84 billion in costs this year.In addition, 15,000 HP employees lost their jobs, according to Reuters.

In a separate announcement, HP Chief Financial Officer and Executive Vice President Bob Wayman will retire at the end of this month, ending a 37 year career with the company, according to a Dec. 11 HP press release.HP Treasure Cathie Lesjak will take over as Executive Vice President. Lesjak will receive an annual salary of $550,000, plus a $550,000 bonus, according to Reuters. 

Last week, HP also announced the retirement of Director of HP Labs Richard Lampman after 35 years with the company. 

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