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HP announces layoffs, Facebook to NYSE?
The NASDAQ board in Times Square advertises Facebook which debuted on the NASDAQ on May 18, 2012 in New York.
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This final note on the way out, just to close the loop on a couple of stories we've been following.
As predicted, Hewlett-Packard did indeed announce huge layoffs today -- 27,000 people, about 8 percent of its total workforce. CEO Meg Whitman says it'll save the company something more than $3 billion.
Also, Facebook. Get a load of this: There are reports out today -- three or four of them -- saying Facebook's talking to the New York Stock Exchange about moving its listing over there after Nasdaq blew the IPO.
We want all financial journalists ready to report just how much money in tax breaks, including the repatriation tax recently served to global companies, are going to these companies who are not growing domestic jobs, but instead are using their profits to expand globally....as we know is their plan. The public needs to see that all these corporate tax cuts are not in fact creating jobs in America, but rather simply feeding profits and global expansion!
(Putting the comment here faute de mieux.)
Given that I am both a mathematical physicist and a probably-typical public radio listener, please forgive my cavilling that going up and then down is ONE-dimensional motion...unless you were referring to Facebook's attempt to also move sideways by moving to the NYSE.....
