HP further cuts EDS salaries

By Natalie Weinstein, CNET News.com
Monday, March 16, 2009 12:12 PM

Hewlett-Packard is cutting salaries of EDS workers another 10 percent beyond what it first announced in February, ZDNet Asia's sister site ZDNet reported last week.

Last month, the company announced salary cuts for all employees, ranging from 2.5 percent for nonexempt employees to 20 percent for the CEO, ZDNet said. HP also said it was making changes to employee benefits to save money.

According to a Friday memo obtained by ZDNet: "Unfortunately, we need to take additional action. Specifically, we have decided to make a temporary, additional reduction in base salary affecting EDS business unit employees in the United States and Puerto Rico."

The temporary salary reductions will go into effect next month and end in May, according to the memo, and workers who make less than US$40,000 annually are excluded.

Hewlett-Packard acquired EDS in a multibillion-dollar deal last year.

This article was first published as a blog post on CNET News.


WORTHWHILE?

0

0 votes
Blog

Talkback 0 comments

There are currently no comments for this post.


Tech Jobs Now!

Search for your ideal tech job:

Output local group membership on Windows Server

Windows Server

Command line skills for Windows Servers are essential to deliver information without wasting time. Here's how an old tool and a new tool can help.


Read more »



Buying a projector? Try an LED TV instead

Blog thumbnail

If you're thinking of buying a new projector for your office meeting room, why not consider getting an LED TV instead. LED TVs are similar to LCD TVs except that..... by Lee Lup Yuen

Read more »

Tags

  1. acquisition
  2. acquisitions
  3. ceo
  4. china
  5. financial
  6. google inc.
  7. green it
  8. ibm corp.
  9. india
  10. industry
  11. information technology
  12. it outsourcing
  13. job
  14. microsoft corp.
  15. network
  16. outsourcing
  17. revenue
  18. singapore
  19. software
  20. u.s.