Unite astonished at HP proposal to cut pay of 300,000 workers
worldwide
19th February 2009
Unite, the UK’s largest union, has expressed astonishment at
today’s (Thursday, 19th) announcement by HP that it proposes to cut
the pay of its entire global workforce by up to 5 per cent, with
more for senior executives.
The announcement was made as part of the HP reporting of its
first quarter results for 2009, with revenue growth of one per cent
compared to last year to £20bn, with profits of £1.3bn.
Peter Skyte, Unite national officer, said: “UK employees who
have made a key contribution to the doubling of the HP services
revenue and borne the brunt of redundancies in Europe will be
astonished that a company that is increasing revenue and still
making substantial profits is seeking a pay cut from its UK
workforce.
“Whilst the basic pay of senior executives is being cut, they
will more than make up any reduction in basic pay by increases in
their executive bonuses brought about by reductions in every one
else’s basic pay.
“The company has today told us that in the UK any pay reduction
will only be with employee agreement and that no coercion will be
applied. We will be seeking written assurances about this when we
meet the company next week.”
ENDS
For further information please contact Peter Skyte on 07768 931
302 or Ashraf Choudhury in the Unite press office on 020 7420 8914
or 07980 224761.
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