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Hewlett-Packard rules out wage hike, hiring
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Hewlett-Packard rules out wage hike, hiring
Bangalore: Hewlett-Packard (H-P) has ruled out wage hikes in 2009 and plans to cut costs and limit hiring to weather impact of the global financial crisis.
"For this year`s focal point review cycle, there will be no salary increases, except where legally required," H-P leadership team said in an e-mail to its employees. An official with H-P who did not wish to be identified said pay hikes for India employees were expected in February.
H-P in India, including MphasiS majority-owned by EDS, is expected to have approximately 60,000 workers on its rolls. An H-P spokesperson declined to detail country specific head count figures.
The leadership team announced a series of measures to cut discretionary spending. These include reducing contractor agency spend, limiting hiring to revenue generating positions, and curbing company travel.
The e-mail further said "Comprehensive benefit reviews are continuing on a country-by-country basis to harmonise H-P and EDS offerings based on market practices."
H-P leadership has directed internal meetings to be conducted virtually, adding "recognition and learning and development programs are also affected."
The e-mail signed by eight members of the senior leadership team said: "These are difficult actions, but necessary in the current environment."
"With all of us pulling together, we have an opportunity to increase market share and emerge from the downturn in a meaningfully stronger competitive position."
H-P has already announced plans to axe 24,600 jobs globally, approximately 8 per cent of its 320,000-employee work force, in a restructuring exercise to save more than $1 billion a year.
Source:
http://www.business-standard.com/india/news/hewlett-packard-rules-out-wage-hike-
