Hewlett-Packard Pay Cut

Following unimpressive Q1'09 results, based from an unknown unconfirmed source, it was reported that HP will be implementing a pay cut company wide.

The breakdown as follow :

• CEO -20%
• Executive Committee -15%
• Managers -10%
• Staff -5%
• Contract Staff -2.5%

Pls take the above with a pinch of salt, nevertheless, even profitable companies like HP could not escape the wrath of the economic crisis.