Extract from an interview of Michel Destot, mayor of Grenoble :

How did you react when you learnt about the numbers of layoffs in
France :

I was shoked, then angry. Of course we are all with the employees, the
more so as the decision of the company cannot be justified.
There is no industrial or strategic reason would could make this
understandable : it is enough to look at the results of HP to be
convinced : profits and dividends are growing, the comparison
Europe/Asia is favorable to Europe.

It is a complete nonsense, a decision made solely to presumably help
the stock price, we are totally in amorality. HP seems to have
lost with the citizen attitude it had only a few years ago.

Source :