HP Wages Cut At EDS: 10% Is The Magic Number
HP continues with its cost-cutting program and announced a further 10% salary cut at its EDS unit.
March 16, 2009
Furthermore, it seems that not everybody will be the subject of the cuts. A company spokesperson confirmed that employees having an annual income below $40,000 will not be the subjects of the above-mentioned cuts.
Hp is going through a rough time lately, despite its leader position on the market. The company is rumored to be cooking up new cost-reduction plans and only time will tell if they will be put to practice or not.
Cuts have been performed even at the highest levels. H CEO Mark Hurd decided to give up on 20% of his income, while executive council members' were persuaded to accept a 15% cut.