HP Ousts Hurd, Teen Employment Worst In 61 Years

The sudden ouster Hewlett-Packard CEO Mark Hurd after an investigation uncovered inaccurate expense reports and a questionable relationship with a contractor leaves many questions about the future of the tech company, as well as the future of the executive who leaves under a dark cloud of scandal. Hurd was credited with bringing much-needed stability to a company that struggled to find its footing after the dot.com collapse. Under Hurd’s leadership, HP surpassed Dell as the top PC maker and expanded further into computer services, networking equipment and smartphones. Can HP maintain the momentum started by Hurd? Will other companies overlook the scandal and consider Hurd for a CEO post? How does the Hurd situation compare to other scandals resulting in ousted CEOs?

In related news, Challenger, Gray & Christmas, Inc. will release its report on July CEO turnover Wednesday, August 11, at 10:00 A.M. EDT.

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Friday’s employment situation report confirmed that 2010 was the worst summer teen job market in 61 years. According to a Challenger analysis of the report, employment among 16- to 19-year-olds grew by just 960,000 jobs between May and the typical summer hiring peak of July. That is 17.5 percent fewer summer jobs than 2009 and the lowest summer hiring figure since 1949, when 932,000 teenagers found jobs during the summer months. The summer ended on a strong note, with employment growing by 457,000 in July. That was the largest July teen employment gain since 2007, when employment among the youngest workers grew by 459,000. The next bump in teen hiring usually occurs in December, as employers add teen job seekers on winter break. However, the winter surge is typically much smaller and short-lived. Why was teen hiring so much lower in a year that began to see job growth, compared to 2009 when the economy was still losing jobs? What will have to happen in the economy to see an improvement in summer hiring next year?

One thought on “HP Ousts Hurd, Teen Employment Worst In 61 Years

  1. With the shake up at HP, do you think the new leadership will just keep doing more of the same or invest in a new direction? The grid posted on this blog provides some interesting comparisons of why companies like HP, Microsoft and Dell should be spending money on new products outside of their core offering.http://bit.ly/cR4t7k

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