HP who are struggling to cut costs have sacked the highly succesful BMW Williams Formula 1 team. The move follows the sacking of 6,000 employees earlier this week.
HP who earlier this week sacked 6,000 people in Europe has now turned its attention to motorsport by sacking the BMW Williams F1 Team. For the last six seasons, HP has been providing technology and sponsorship for the team. Despite this, BMW Williams F1 Team has won more than 42 podium finishes, including 10 Grand Prix victories. The team finished second in the Constructors Championship in both 2002 and 2003.
It has all been good publicity for HP. However, Cathy Lyons, HP’s executive vice president and chief marketing officer said the printer company had met its objectives and the deal will end at the end of 2005. We would have thought that going around in circles at high speed would be a good symbol of HP’s future. Lyons says that she wishes the BMW Williams F1 Team all the best “as they go in a new direction next season.” However it is probably dangerous for race cars and printer companies to go in new directions when everyone else is speeding the opposite way.
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