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Mon May 21, 2012
What HP Layoffs May Mean For The Boise Economy
A clever poster depicts the Boise area’s high-tech industry as clusters of galaxies. At the center of one is HP. Hundreds of stars orbit the HP galaxy, symbolizing businesses related to the company, or founded by ex-employees.
Matt Rissell is cofounder and CEO of local tech company TSheets. He also chairs the Idaho Technology Council’s Software Alliance. Rissell says, "Because HP carries so much weight in the area - when they do something - when HP sneezes, you know, there is a ripple effect."
If HP sneezes on Wednesday and announces layoffs of Boise-based workers, the effects would multiply through the local economy. Don Holley is an economics professor at Boise State University. He ran a rough analysis of HP layoffs. Holley says, "For every hundred workers you lose, you’re going to lose at least another fifty."
HP Boise employs several thousand people. The company has nearly 350,000 employees worldwide.
Copyright 2012 Boise State Public Radio