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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Company News: HP plans more cuts in work force

From Wire Reports The Spokesman-Review

Computer maker Hewlett-Packard Co. still has more cost-cutting ahead, even after a massive restructuring that has sliced the work force by 10 percent, Chief Executive Mark Hurd told analysts Tuesday.

At a meeting in New York that was broadcast over the Internet, Hurd said HP would continue to look for expense reductions while it retools its sales strategies and makes other moves aimed at improving the company’s overall position.

“We have a lot more cost to take out,” Hurd said. “We are a company that is transforming — we are not a company that is transformed.”

Hurd already is credited with sparking a dramatic turnaround at HP in less than two years at the helm; HP’s stock price has doubled. Beginning in July 2005, HP has cut 15,300 jobs and overhauled its retirement plan, moves aimed at saving $1.9 billion a year.

Les Schwab’s board of directors approved the appointment of Dick Borgman, 51-year-old president of the company, to serve as chief executive officer. The CEO position is new at Les Schwab.

The company also said it will be moving its corporate offices to Bend. The Bend City Council approved the Prineville-based company’s purchase of land this week.

Les Schwab Chairman Phil Wick said the company is pleased to find a location for the company that retains its connection to Central Oregon.

The company considered out-of-state locations during its yearlong hunt but chose a 12-acre parcel of land in the Juniper Ridge development, northeast of Bend. The company anticipates construction of a new building there will be completed in the fall of 2008.

About 350 employees will work at the Bend office and an additional 800 employees will remain in Prineville at the Les Schwab tire re-treading, warehousing, transport and distribution center.

Microsoft Corp. put out three software patches Tuesday that fix problems carrying a “critical” rating, the company’s highest threat level.

All three could let an attacker remotely run code on a victim’s computer. The patches close holes in Microsoft’s Internet Explorer Web browser, its Windows Media Player program and its Visual Studio 2005 development software.

Four other patches, for vulnerabilities deemed “important,” also were released for Windows and its Outlook Express e-mail program.

Computer users with Microsoft’s automatic updates feature enabled in Windows do not have to do anything to get these seven repairs. Others should visit Microsoft’s security Web site.