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Before Trying to Fix the Business,A CEO Had to Understand It

July 26, 2005 /

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When Mark Hurd was named chief executive of Hewlett-Packard Co. in late March, the board gave him a clear mission: fix the giant computer and printer maker, which was suffering from slow growth and inconsistent results.

Mr. Hurd took a big step toward attempting to fulfill that mandate yesterday, when he announced a sweeping plan to cut costs and restructure the company. Over the next 18 months, H-P will lay off 14,500 employees, or about 10% of its global work force, modify its pension benefits and revamp its sales force in an effort to make the company more efficient and better able to serve customers.

By Pui-Wing Tam

From The Wall Street Journal Online

Full Story: http://www.careerjournal.com/myc/management/20050726-tam.html?cjcontent=mail

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