SGI boss gets $150K bonus a month after cutting 7 percent of staff

A month after reporting that it was laying off about 100 employees, or 7 percent of its workforce, Silicon Graphics approved a b$150,000 bonus for its chief executive, Robert Ewald, “in recognition of his accomplishments during fiscal year 2008,” according to a filing made Wednesday with the SEC.

The company, which makes servers and visualization systems, is set to release financial results for its fiscal 2008 fourth quarter after the markets close today. Last month, the company gave a preview when it said it expected to report sales for the quarter that were in the lower half of its previously issued guidance range. Silicon Graphics previously estimated revenue of $115 million to $135 million for the quarter ended June 27.

The company leavened that with an upbeat expectation that new business bookings during the quarter will be at the upper end of its estimated range of $80 million to $100 million, which represents 25 percent growth from the same quarter a year ago.

“Silicon’s original guidance for the fiscal fourth quarter of 2008 remains intact, as does our strategy to execute on our operating plan to achieve a lower operating break-even point,” Chief Executive Robert “Bo” Ewald said in a statement at the time.

Ewald was named CEO in April 2007 when he returned to the company where he once served as chief operating officer. He’s paid an annual salary of $600,000 and was given a guaranteed bonus of $138,462 for his first few months on the job.

 

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  • FestivalMan

    I almost took a job with these jokers, thank god it was not a fit

  • JAW

    Big business is clueless.

 
 
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