HP to cut 30,000 jobs, Retravision in trouble, CBA building prisons

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CriticalSilver

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Some interesting articles in The Age this morning:

Hewlett-Packard to cut 30,000 jobs

Hewlett-Packard's chief executive, Meg Whitman, plans to cut 30,000 or more jobs next week, according to officials familiar with the plan. Her goal, they said Thursday, is to spend the money she saves on increasing the efficiency of the company's sales force and on creating new products.
The executives, who spoke on the condition of anonymity because they are not authorised to speak for the company, said that HP would seek layoffs and voluntary retirements from across the company. The total could be as many as 10 per cent of HP's workforce of 324,000. China, one of HP's highest growth areas, would probably be spared, as would its research and development efforts.


Read more: http://www.theage.com.au/it-pro/business-it/hewlettpackard-to-cut-30000-jobs-20120518-1yujc.html
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Administration fears for Retravision

The fate of another retailer is under a cloud, with fears Retravision Southern may slide into administration.

Retravision Southern, the buying and marketing company for 99 privately-owned Retravision stores in Victoria and Tasmania, reassured employees yesterday that they would be paid if the company fell into administration, according to a trade publication.

Read more: http://www.theage.com.au/business/administration-fears-for-retravision-20120518-1yugj.html
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Plea for bank help in prison project crisis
CRISIS talks to rescue the troubled Ararat prison project were under way yesterday as the local council chief demanded the Commonwealth Bank pay subcontractors and workers left out of pocket by the shutdown.

It remained unclear last night whether dozens of companies owed money would be paid, with the bank and its consortium partner, Bilfinger Berger, refusing to answer questions about the project.

Read more: http://www.theage.com.au/victoria/plea-for-bank-help-in-prison-project-crisis-20120517-1ytm6.html
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No one mention China or Real Estate, please. It's all too depressing.
 
Very depressing indeed. Does anyone have good news?
(besides gold silver bottom?)
 
ReeeeeccccceeeeesssssiiiiiooooonnnnHow do you spell itFor those with dyslexia.D.E.P.R.E.S.S.I.O.N
 
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