HP has gone through some tough times recently- announcing last month that it would lay off some 27,000 employees – and the company still has a long way to go to get out of the woods.When asked in an interview Tuesday with The Wall Street Journal how long it would take HP to turn around its business, the company’s CEO Meg Whitman offered the following response:
“Most turnarounds in American industry are anywhere between four and five years. And we’re at the beginning of the journey, not the end of the journey. Ultimately, you will see the sales decline slow and start to grow again, with the caveat that our services businesses may be a smaller but more profitable business.”
What’s more, in another interview the same day with AllThingsD, Whitman also admitted that there’s a chance the layoffs might not have been enough.
“I think it’s the right size,” Whitman said when asked if 8% staff cuts were enough. “You never know for sure, but we’re taking the very best analysis that we can.”