H-P Co founder David Packard retires; Platt takes on added role of chairman

Article Abstract:

David Packard resigns his post as chairman of HP after co-founding the company with William Hewlett in 1939 and serving as chairman for 54 years. The 81-year-old executive has remained an active member of the board and influenced the shift in management strategy that occurred in 1990; however, neither he nor his 80-year-old partner has served as chief executive officer since 1978, and they do not participate in daily operations. Lewis Platt, president and chief executive officer of HP, is now also serving as chairman. The resignation of Packard is not expected to affect the operation of the Palo Alto, CA, computer company. Packard now holds the title of director emeritus, and he says he will continue to offer advice to the company.

Computer peripheral equipment, not elsewhere classified, Officials and employees, Appointments, resignations and dismissals, Hewlett-Packard Co., HWP, Chief executive officers, Packard, David, Organization Structure, Resignation, Platt, Lew

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Apple planning to dismiss 16% of work force

Article Abstract:

Apple, as part of its wide-ranging reorganization effort, will reduce its workforce by 16 percent or a total of 2,500 employees. Industry analysts estimate that the cost of the layoff will range between $250 million and $300 million, or an after-tax charge of approximately $1 to $2 per share. Apple states that the layoffs will occur worldwide. The cuts are anticipated to extend to the company's vaunted research and development division, even though they will be minor compared to cuts anticipated in other Apple divisions. Morale at the firm has dropped considerably, and many executives are expecting salary reductions. Apple is undertaking re-engineering efforts in order to revitalize itself after a devastating computer price war.

Prepackaged software, Planning, AAPL, Layoffs, Layoff, Apple Inc., Strategic Planning, Reorganization

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