Pay cuts, not layoffs, coming to HP
CEO Mark Hurd is giving himself a modest 20 percent pay cut (he earned $42.5 million in total compensation last year, btw) and the pay cuts decrease from there. The Executive Council’s pay checks will be 15 percent lighter soon, other executive’s 10 percent less, 5 percent for exempt employees, and 2.5 for non-exempt drones.
Who knows if this strategy will fix or even solve HP’s money from going down the drain but at least folks still have a job. Getting a pay cut is hella lot better than standing in the soup line. Here’s an idea though, cut the CEO’s total compensation by 80% and give everyone a raise.