Re: the HP board of directors fear for their lives
"and will need people to do work and make their investment profitable"
No. Modern management practice is to keep firing people year after year. The fact that they do the actual work is of no consequence. It cuts costs in the next quarter. The wise heads in the stock markets nod approvingly and increase the price. The execs get bonuses based on this. The is proceeds until the company is unable to function but by that time the execs have gone to spend more time with their money and everyone in the stock markets say what a dog that company was.
There are extra bonus points for the bankers if they can catch the company, put it into administration, buy it out again, leaving its creditors to absorb the losses, load it up with even more debt (the driving force of all this for the banks is to load it up with debt and collect the interest).
Nothing in this does any good at all for employment. Any work that has to be done will be ousourced. Expect the outsourcers to be amongst the disappointed creditors.