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Past Symposium/ITxpo
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Fiorina: HP Is Well Positioned to Remain on Top Wednesday, 9 October 2002 View the Webcast Hewlett-Packard CEO Carleton S. (Carly) Fiorina has experienced the entire spectrum the past 18 months — negotiating, campaigning, battling, consummating, mapping, implementing and integrating. And that's just for starters. Her company's merger with Compaq is still in the very early stages, but Ms. Fiorina thinks HP, the world's No. 1 PC and printer manufacturer, is well-positioned and poised to grab more of the IT pie. Ms. Fiorina was the first of three high-profile CEOs featured during Tuesday's Mastermind Keynote presentations at Gartner Symposium/ITxpo 2002. On stage with Gartner analysts Paul McGuckin and Betsy Burton, Ms. Fiorina addressed several topics, including the status of HP's ongoing integration strategy. She said HP is "at or ahead of" its integration milestones, one of which is completing its first round of layoffs by the end of the company's fiscal year. After its merger with Compaq was approved in May, HP said it planned to cut 15,000 jobs, including 10,000 by October 31. By late August, about 6,500 people had been laid off. On September 25, citing changing market dynamics, HP announced plans for 1,800 more layoffs in addition to the 15,000 announced originally. "I don't like workforce reductions," Ms. Fiorina said Tuesday. "But they are a necessity and a reality as market demands change." Amid the layoffs, Ms. Fiorina pointed out that HP has hired 2,300 people, most to support its lucrative printing and imaging business but many also within its profitable services division. She also spoke bluntly about the competition. Dell Computer is No. 2 behind HP in the PC market, and Dell announced on September 24 that starting next year it would work with Lexmark to make Dell-branded printers. "The fact that Dell makes an announcement doesn't have us shaking in our boots," Ms. Fiorina said. "For the past 20 years, we have continually faced competition in low-end printers, and we have demonstrated the ability to remain No. 1 in the market. Our product development has always needed to be competitive. Dell's announcement doesn't change that in any way." Fiorina said that the technology industry will continue to mature and consolidate, and that the survivors will be large, low-cost vendors. Mr. McGuckin asked the HP chief to grade the first few months of her company's integration. "Candidly, compared to what most people expected — the same people who never thought we'd win the (proxy) vote and doubted us all along — I think we've exceeded or met our expectations," Ms. Fiorina said. "I wouldn't want to give us an A, but I'd say either a B-plus or A-minus for sure." John Allen Gartner Staff |
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