Hewlett-Packard staff have held a protest outside the company's City of London headquarters in Wood Street today. Organised by the Unite union, the demonstration follows HP's decision to cull 3,400 jobs.
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Unite national officer Peter Skyte said, "This is not about the credit crunch taking its toll again. HP/EDS is cutting a quarter of the UK workforce because this already rich company wants to increase its profits by indiscriminately cost cutting. In 2008, HP's profit rose 15% to $8.3bn, sales climbed 13% to $118.4bn and it is outrageous that HP chief executive Mark Hurd's 2008 compensation rose by 31% while his workforce is being forced to make huge sacrifices."
Unite warned the company that by cutting workplace levels to the bone, remaining workers would be in danger of developing stress-related illnesses.