According to the company, the wave cuts will be temporary and will affect only employees in the US and Puerto Rico. HP added that the base salaries will be reinstated at the levels of base pay prior to the cuts in May.
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.