According to an article in the Dallas Morning News, Hewlett-Packard (HP) announced more job losses this week. Over 6,400 HP workers will experience job losses this year. That's 2 percent of HP's global staff. But they won't be the only HP workers experiencing job losses as the computer company shrinks to meet sagging demand.
The article said:
The layoffs come on top of the 24,600 jobs HP was already dumping as part of its acquisition of Electronic Data Systems, a technology services provider HP bought for $13.9 billion last year to mount a bigger challenge to IBM Corp.
The job losses just continue to grow as the economy shrinks because of cautious consumers and dwindling credit availability. There's a ripple effect caused by job losses that is fueling the rise in foreclosures and bankruptcies. As more Americans face job losses they are unable to purchase products beyond their basic needs. And as short-term unemployment transforms into an extended problem with many workers staying out of work for over 8 months, many are in jeopardy of more serious financial problems such as foreclosure. If you are facing a job loss or have been unemployed for an extended period of time, do not allow your financial situation to deteriorate. If you are unable to find employment and are facing foreclosure or default on your credit cards/personal loans, you may be able to discharge your debts in bankruptcy. To find out more information about your bankruptcy options contact a Dallas-Fort Worth bankruptcy attorney today.