HP invites pay cuts

Hewlett-Packard's New Zealand staff have been asked to take a 10% pay cut, along with their US counterparts.

Hewlett-Packard’s New Zealand staff have been asked to take a 10% pay cut, along with their US counterparts.

HP New Zealand head Barry Hastings says the company has asked employees to consider a cut or taking eight days of annual leave between July 1 and the end of October. An alternative is to take a combination 5% pay cut and four days holiday.

Hastings says staff reaction has been supportive. Staff members also have the choice of doing nothing.

“If we can get the leave balance down, its better for the bottom line of the business. Several of our major competitors are forcing leave on people.”

Compaq New Zealand staff have not been asked to take holidays, despite Compaq workers having to do so in the US.

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