On a quarterly earnings call, HP chief executive Meg Whitman
took a hammering from Wall Street analysts, clearly surprised by
the magnitude of the numbers. Whitman announced her turnaround
plan in May 2012 estimating layoffs of 27,000. The numbers were
later boosted to 29,000, then 34,000 and now are estimated at a
Analysts asked if Whitman had lost confidence in HP’s ability to
“This has nothing to do with our confidence in business, it’s
about opportunities to make this company better,” Whitman said.
“I’ve done a number of turnarounds — not at this scale — but you
see more opportunities the deeper you get in,” she said.
She’s right about one thing: she’s in deep.