time to strike or leave
Since HP took over EDS;
- All training is banned
- Travel is severely restricted
- All pay rises due in October 2008 frozen & never likely to happen
- Announcement that 26,000 jobs will be cut
- EDS CEO Ron Rittenmeyer gets $90m pay out to leave
- Other senior EDS'ers get $50m to leave
- December 2008 Mark Hurd & his 3 buddies take $150m in bonuses unaware of the impending quarters results or the current economic climate
- January 2009 - Mark Hurd sudenly becomes aware of the current climate asking for 5 & 10% pay cuts from staff as revenue of $28bn for the quarter isn't enough!
"Revenue for the first quarter increased 1% to $28.80 billion from $28.47 billion in the same quarter last year"
- Announcement of mandatory closure over christmas for 8 days to be taken from our own leave (hang on guys we support amongst other things all UK Govts Infrastructure & Apps!)
- Q2 HP results revenue was $27.4 billion - TSG provides 47% of HP’s revenue and more than half of HP’s profit, $8.5B in revenue. Technology Services delivered $2.4B in revenue, and the businesses within EDS delivered $6.1B in revenue.
- So obviously another 6000 people need to sacked (on top of the thousands already gone)
- Further tavel and overtime restrictions for massively depleted EDS staff
Bottom line is that HP over speculates on its expected profits given the current climate, gets a shortfall based on unrealistic expectations & uses it as an exscuse to cut costs.
Questions to Mr Hurd
1) How about being realistic to shareholders or giving back some of the $43m?
2) Is it reasonable (Or Morally acceptable) to take that amount of money & expect people on less than 1/1000th of that amount of money to take pay cuts or get sacked?
3) Do you understand how EDS as a services company works?
(i.e. can't shut up shop over christmas. EDS providing a service to clients is all about the people
Cutting numbers & hammering the rest means bye bye to current contracts. No chance of renewals or new ones)
4) Do you actually give a damn, I suspect not. Hammer costs for a few more $50m bonuses then onto the next company as HP crumbles.