Hewlett-Packard (HP) and Compaq will release details of the new company created following their merger. The new firm’s organizational structure and the selection process for filling employee positions will be outlined next week.
HP’s plan to cut 15,000 positions worldwide following its acquisition of Compaq was among its employees’ top concerns during the drawn-out proxy fight over the deal. HP warned staff that decisions about job cuts – which will take place over the next two years – might not be immediately forthcoming once the deal closes.
Selection timeline But in a memo to employees sent Wednesday and signed by HP chairman and Chief Executive Officer (CEO) Carly Fiorina and Compaq Chairman and CEO Michael Capellas, both companies said they would release an overview of the selection process that will be used to fill jobs in the new HP next week. The overview will include, “guiding principles and a broad timeline” according to the memo.
The companies also will announce some of HP’s new top executives, including managers who will report directly to the management team. HP has already said that Fiorina will retain her current positions, while Compaq’s Capellas will become HP’s president. The company has remained quiet about plans to fill other top spots.