Within HP’s quarterly results today, a bit of a development for Autonomy, the company’s $10.2 billion enterprise software purchase from last year that was profitable when HP bought it but in the last quarter saw “significant” declines in its core licensing revenue: its founder and head Mike Lynch is stepping down, and he is getting replaced by a HP man: chief strategy officer and EVP of enterprise software Bill Veghte. HP says in its Q2 earnings release that this is being done to help improve Autonomy’s performance. In an internal memo to employees, which TechCrunch has obtained, CEO Meg Whitman says that the move is being made to as a mark of how HP is “investing to speed development across Security, Information and Management Infrastructure ... Continue reading →

A mixed bag of news for HP today: it has posted Q2 sales that have just edged out analyst expectations, but it has also confirmed 27,000 job cuts that should save the company between $3 billion and $3.5 billion by 2014. The company is a tech behemoth: it employs 350,000 people worldwide, before these cuts were announced. This means the cuts are equivalent to about 8 percent of its workforce. The cuts fall squarely in the middle of the estimates that were reported in past weeks, with CEO Meg Whitman reportedly planning to cut between 25,000 and 30,000 jobs — news that investors seemed to actually find encouraging with the stock price rising on the news. That seems to be the case here, too: the ... Continue reading →

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