Plano In Holding Pattern Over Cuts At HP Facility
PLANO (CBSDFW.COM) - The future is still uncertain for many Plano workers who learned yesterday they could lose their jobs when Hewlett Packard cuts nearly 30,000 jobs worldwide.
Many of HP's nearly 5,000 Plano employees received emails notifying them early retirements will be offered, which should soften any blow to the local economy.
Still, Collin County officials expect the layoffs to hit Plano's Enterprise Services division of HP hard.
It comes at a time when Collin County's unemployment rate is 6.3 percent, which is less than the state and national averages.
Local officials are quick to point out other similar companies in Plano are expanding. "It's a concern," said Plano City Manager Bruce Glasscock. "It has a rippling effect because if they live anywhere in Plano or Collin County and they get laid off that a potential impact on their buying capacity, their homes, everything. But at the same time we're seeing businesses out there expand so it's not doom and gloom."
HP plans to spread the layoffs out over a three year period. The move is expected to save the company more than $3 Billion.
