It is past midnight and I can’t sleep. I haven’t been sleeping well lately, so I thought I catch up with some US news. And lo and behold, another big one showed up on Google News.
HP has fired Leo Apotheker and appointed Meg Whitman, the former boss of EBay, to become the new CEO and President of HP. Leo Apotheker was on the job for about 10 months (Damn!). Such actions shake investors confidence and not good for the image of the company. If Leo Apotheker wasn’t the right guy, why take him in the first place?
Leo is responsible for HP’s purchase of Autonomous just a month ago and now, the HP vision and direction have to be realigned again.
Here’s one of the news from Reuters.
Wait! There’s more confidence shattering news. Excerpt from one of the online news:
HP has laid off hundreds of employees in its ill-fated foray into the mobile ecosystem. HP is trying to spin off its PC unit and, at the same time, find a home for its fast deteriorating mobile assets, having spent billions of dollars trying to break into phones and tablets ($1 billion+ to buy Palm, investments in the business and write off of inventory) and then yanking the cord approximately 60 days into the adventure.
It is not hard to write not so good news about HP. They keep making such discouraging news on their own.