at least some-one in HP gets a raise
HP has multiplied chief executive officer Meg Whitman's salary by 1.5 million. Revealed in a December 17th Form-8K filing to the US Securities and Exchange Commission, HP explains the rise as follows: On December 11, 2013, the independent members of the Board of Directors of Hewlett-Packard Company (“HP”) approved an increase …
Just wait to know how many will receive their pink slips to pay for the CEO new salary...
....... or told that they are leaving.............
It isn't news when they do it once. If they do it again I'll be impressed.
My guess is through a holiday in their pension contributions.
HP is a big company which even in its current state still makes $1bn a quarter net profit; paying Meg $1.5m a year will not even be noticed amongst the company finances.
Whether it's right that an independently wealthy billionaire SHOULD be paid $1.5m a year when many of her colleagues are being shown the door is a different matter.
Pay should be based on performance not whether or not someone else has money. Employment should be continued based on performance and need, not whether or not the person needs the money.
I've been RIFFED twice and dodged it another time*. It's never fun going through it, but if you keep your wits about you you can land on your feet. This last time it was actually a blessing. I'd been too lazy (and the exorbitant leave [by US standards] was nice) to go hunting for something better but when I had to I landed a better paying job.
*I'd probably have been kept through the resolution of the bankruptcy, but left before the last RIFF before they filed for it.
All you have to do at HP to "perform" is not make mistakes. You're not doing a brilliant job, just not making choices that fail disastrously.
That hardly warrants a big pay packet. I'm sure even I could keep them on the straight and narrow.
Happy Christmas Meg... all the while HP continue to make cuts... well not so Happy Christmas for those guys n gals.
About time a woman got paid the same as a man for a job well done.
Paris, as she is another woman worth 1.5 million a year.
An increase approved by the same Board of Directors that approved the EDS, Touchpad and Autonomy purchases and subsequent write downs equivalent to $30k per employee.
Looking forward to 2014 being another bumper year for Vice President appointments.
Coat because we're all getting them.