HP seeks Asian pay cuts Computer maker asks employees to accept less pay, unpaid time off

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PALO ALTO, Calif. (AP) - Computer and printer maker Hewlett-Packard Co.
has asked 14,000 of its workers in Asia to take pay cuts or use additional
vacation days in an effort to trim costs.

Similar to terms announced for U.S.
workers last week, company
employees have three choices: take
a 10 percent pay cut, use up eight
paid vacation days, or take a 5
percent cut and four vacation days.
The program is voluntary and about
23,000 workers worldwide have
signed up so far, according to a Hewlett-Packard spokeswoman.

The company said the voluntary vacations and pay cuts would save money,
but would not disclose further details.

The pay cuts for both Asian and American workers will be implemented for
four months. Employees have until July 6 to decide if they want to take part.

Hewlett-Packard announced in January it was cutting 1,700 marketing
positions. Four months later, HP said it was trimming 3,000 management
jobs. The company currently employs about 90,000 people worldwide.
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2001-7-4 -04:00
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