[Two highlights:]
"Top officials at H-P and Compaq have already announced that they've found about $2.5 billion in overlap from the combination of the companies, in areas from marketing and sales to legal and human resources. A figure that high translates into many, many jobs for employees at the lower levels of the corporate ladder."
[and]
"Michel Lalliard, a Compaq marketing employee in France who flew into California to protest, told online news service CNET that he expects more than 50,000 jobs will be cut. Company officials at H-P and Compaq have already acknowledged that 15,000 positions could be eliminated."
[The whole article is at] http://www.prospect.org/webfeatures/2002/03/batchelor-b-03-25.html