HP CEO: Weâ€™re screwed (for the next few years)
Adam Rifkin stashed this in Silicon Valley!
Hewlett-Packard CEO Meg Whitman projected that the company would continue its headlong plunge in profits for at least another yearâ€”with a full rebound not in sight until 2016.
Showing shades of her previous political aspirations, Whitman liberally mixed metaphors to describe her awakening to just how screwed HP was. "We all hope we can accelerate the timing of this journey, but as I see the challenges up close and personal, there are no silver bullets," she said. "It's going to take longer to right this ship than any of us would like."
Not all of HP's product lines, or the people who make them, will survive the "journey" Whitman outlined. There will be some serious pruning of HP's businesses, and a focus on automating more of manufacturing (and eliminating workers). And even with new products in the pipeline, Whitman said 2013 is going to be a "rebuilding year" as the company retools practically everything it does. "2014 will be the year you see real recovery and expansion," she promised. "The new products and services we've been working on will kick in big-time in 2014."
Whitman put the bulk of the blame for the company's position on the mismanagement of her predecessors.
Of course she did:
The "single biggest challenge facing HP," she said, has been the multiple changes in HP's leadership, which caused "inconsistent strategic choices and some significant execution miscues." All that shuffling at the top led to a deficit of actual leadership within the company.
Things are so messed up at HP that she's going to have to take 4 years and fire many employees?!
hooray for Milquetoast Meg!
It's pretty clear that HP was just as desperate as the CA GOP!
I have a bad feeling about the future of HP.
What would you do if you were HP?
CLOUD and BIG DATA. Acquire companies to round out the offerings.
Compete with Amazon Web Services on infrastructure.
And build up a substantial SaaS business, through investment and acquisition.
Although I didn't realize it at them time, I think Leo Apotheker had a good idea with the move into Enterprise Software.
Agreed. I have no idea what Meg Whitman's vision for HP is.
It's the same as her vision for eBay: Stuff.. Something... ooo VoIP is kewl!!
Did eBay make money buying Skype and then spinning it out? I think so.
Therefore, not bad.
and Paypal was a brilliant purchase, it seems, whoever was in charge of that decision....
sure Skype made money in the end... but where was the product alignment?
eBay has never really been about product alignment.