HP CUTS WAGES AT E.D.S. UNIT BY 10%

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HP CUTS WAGES AT E.D.S. UNIT BY 10%

 user 2009-03-17 at 11:09:47 am Views: 54
  • #21858

    http://www.vnunet.com/vnunet/news/2238566/hp-cuts-eds-staff-wages
    HP cuts wages at EDS unit by 10 per cent
    Employees face additional cuts to those announced in February
    HP
    is to cut wages at its EDS unit by a further 10 per cent, on top of the
    company-wide reductions announced in February.HP said that the move
    will affect employees based in the US and Puerto Rico. It promised that
    the cuts will be “temporary” and that employees below an annual income
    of $40,000 (£28,000) will not be affected.”In May, base salaries for US
    and Puerto Rico employees in the EDS business unit will be reinstated
    at the levels of base pay prior to this temporary base salary
    reduction,” said the company in a statement.

    The initial
    February cuts in pay and benefits came after a disappointing first
    quarter for HP, although the EDS division had seen growth and
    outperformed other areas.HP chief executive Mark Hurd reduced his own
    pay by 20 per cent, executive council members’ pay by 15 per cent and
    exempt employees’ pay by five per cent.