HP employees have a simple request for new CEO Leo Apotheker: Give us our money back.HP reduced the salaries of rank and file employees by 5% in February 2009, when the economy was looking its worst. HP eventually bounced back, but the company never restored the 5% of salary.
At the end of 2009, HP employees were given a one time cash bonus to make up for the money that was lost.
A nice gesture on HP’s part, but employees still feel nervous.
To them, the bonus felt capricious, and tacked on. Now employees wonder: If HP was able to pay that bonus, why can’t it restore their salaries to their proper level permanently? Employees don’t know if they’ll get the money again this year, or next year, or the year after, and so on.
Today is the first day of Leo Apotheker’s run as CEO of HP. If he wants to differentiate himself from the previous bosses, and earn the trust and love of HP’s employees, he should restore their salaries. After all, HP’s revenues are growing across divisions quite well now, so Hurd’s excuse for slashing salary doesn’t really hold.