Hewlett-Packard

By: EconomyWatch   Date: 17 July 2010

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Hewlett-Packard is ranked #53 in 2008 Forbes Global 2000 list. This public company performed well on parameters like sales, profits, and market value, which helped it to get a high Forbes Global 2000 ranking.
Hewlett-Packard headquarters is located in Palo Alto, California. It serves important industry verticals like computer systems, computer software, consulting, computer peripherals, and IT services. Business operations of this firm extend to more than 170 countries.

Brief history
William Hewlett and David Packard formally established Hewlett-Packard in 1939, five years from beginning of their partnership in a Palo Alto garage. Incorporation of Hewlett-Packard took place on August 8, 1947. On November 6, 1957 Hewlett-Packard went public.

Products and services
Products manufactured by Hewlett-Packard include computer monitors, indigo digital press, digital cameras, laptops, printers, servers, storage, personal computers, scanners, and televisions. Hewlett-Packard also offers gaming systems, notebooks, and networking products.

Business and IT services of Hewlett-Packard include business applications, infrastructure services, packaged services, outsourcing services, and support services. Other services offered by Hewlett-Packard include education and training, industry solutions, and leading and financing.

Financials
In 2007, total sales worth about $113.054 billion were conducted by Hewlett-Packard. Profits made by this firm amounted to $8.381 billion. Hewlett-Packard held assets worth nearly $95.894 billion. Nearly 172,000 employees work with Hewlett-Packard.

Awards and recognition
In 2007, Hewlett-Packard obtained a Fortune 500 ranking of #14. For 3 consecutive years, Hewlett Packard found itself in Diversity Inc's "Top 50 Companies for Diversity". Indian Red Cross Society Karnataka awarded Hewlett-Packard with "Certificate of Excellence"for its contribution towards rehabilitation of tsunami affected people. Working Mothers magazine has acknowledged Hewlett-Packard as one of the best companies for working mothers.

Current financial crisis
Hewlett-Packard has not proved to be immune to current global financial crisis. It has considered several measures to counter adverse effects of this crisis on Hewlett-Packard's business lines. Hewlett-Packard has announced that massive lay-offs will take place and an overall workforce reduction of about 24,600 is what is being looked at.



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