HP’s Mark Hurd made $24.2 million in fiscal 2009
Last year, our most popular post by far was “HP’s Mark Hurd made $42.5 million in fiscal 2008.” The post has drawn a whopping 254 comments, with more still coming in.
So given the interest, it seems only right to post an update with Hurd’s last salary numbers for fiscal year 2009: $24.2 million. A story in the Mercury News this week covered the basics:
“The filing showed that Hurd, 53, got a salary of $1.3 million, down from his $1.5 million salary the year before.
His base pay was cut 20 percent in 2009 as part of companywide pay cuts announced in February. But Hurd recouped the difference with his $1.2 million bonus, which HP said included the amount its executives’ pay was reduced under the pay-cut plan. At the time of the cuts, Hurd said that all employees might wind up making up the difference in the form of bonuses if the company performed well.
Hurd received a $5.3 million bonus the year before.
HP, which is based in Palo Alto, said some executives’ bonuses were hampered by the fact the company’s revenue in all business units were below internal targets for bonuses set in January 2009, “at a time when the full extent of the economic downturn that had begun in the fall of 2008 was not known.”
Now, the story says that was down 29 percent from the before. Still was he worth it? Let us know what you think.
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nope, he is not worth it. He is showing no ability to grow HP. This is highlighted by the fact that HP core business is suffering under his leadership (ink and PC’s). He is maintaining a share price but i believe inorder to achieve this, in the short term, he will ruin the company in the long term.
A real leader, if he was one, would have shown real commitment to his employees at this time. He would have refused his bonus and just taken his pay, which is 1.3 million anyway.
Hurd will cut everthing he can out of HP, including employees. He will not give any decent pay rises to emploees. He will out source their jobs and when there is nothing left to cut, he will leave.
He has shown no ability to grow business……………
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Hurd made a presentation when i was still a member of HP. He made a really great comment, which put the thought in my head to leave. He made the following statement, ” As a business, if we are not growing, then we are declining. Standing still in business is like dying”. If you apply this statment to yourself, as a business……..by staying in HP you are dying…..i could not agree with him more.
Yep, $24.2m in one year is pretty sick. I wonder how Mark Hurd sleeps at night knowing that some of the workforce who helped to drive up revenue during FY09 have commited suicide after either getting the push or having a 20% pay cut (former EDS in the USA) imposed upon them..
Couldn’t agree more. HP is going nowhere under Mark Hurd. He is overpaid by a factor of 10, as are all the execs.
HP took over EDS and at the time EDS was a good company not a great company just a good company. Now under Hurd it is the worst company to work for, they outright lie to the staff - PAY FOR PERFORMANCE - we can prove we performed but no pay increase or Bonus, we worry about our clients all around the world but HP dont care. Hurd took over EDS because they are a Service company and in 1 year he and his incompetent managers have destroyed EDS, cant get stationary, HP managers cant make a decision, Training is non existent it is embarrasing to say we work for HP. So much red tape it is pathetic, their applications are the worst. Only good thing are their servers THATS IT. Warning the market is picking up and we will all leave, so from myself and the employees you have destroyed around the world GOODBYE and we hope the company crashes and you and your cronies end up the way of ENRON - IN JAIL.
He has already earned way more than anyone else in a life time, with his $42 million compensation received in 2008. And I am sure that in his previous employment, he must have collected substantial bonuses over the years… Now an additional $24 million collected on the sweat and stress of workers all over the world? A $100 cut in net pay at the end of the month has way more impact on most workers than him getting half his fat bonus.
How come society keep rewarding the so-called leaders who lead the economy (and us) to the slaughter house?
They returned some of the 5% that they needed to maintain 2009 momentum, but then secretly restructured all of the health and dental plans. Now we’re paying higher co-payments and co-insurance than we ever did before!
Which basically amounts to another pay cut. So now we’re still out the 5% in 2010 and have higher co-payments and less health coverage than we did in 2009!
I’m sure Hurd doesn’t have to worry about a dental co-payment.
HP = High pressure for half the pay
Please do not begrudge my husband his hard-earned compensation. We are suffering terribly with this $18M decrease in salary, how is one to live on only $24M?!
I guess he will have to stiff more of the American people and send their jobs to India and Taiwan. As he has stated, HP is not a US company, it is a global company, so any government incentives to keep jobs in the US take a back seat to what will grow our paycheck. The remaining employees should stop whining about no raises and be happy to have a job!
*********************
Ok, I shall stop pretending to be a pompous turd! The reality is that when he is done, the only US presence HP will have is management. There are continued, QUIET layoffs, a lot of consolidating and restructuring, power plays among business units, and a complete lack of engagement with the employees. HP sells technology and solutions, but its internal systems suck, are cumbersome, and insufficient. The functions that have been sent to India have increased turnaround times and decreased efficiency, but management is oblivious, because they look only at salary comparisons.
HP gets kudos for being “green.” Maybe they’re green in California and other select sites, but most are “black,” as in the color of smog and soot! HP has always supported flexible schedules and telecommuting, yet the VP of ISS Supply Chain believes all employees must be in their cube from 8 - 5, because if you are not at work, you are not working. This is even during an initiative announced to make the workforce mobile, saving the company money, having a less negative impact on the environment, and increasing productivity. This initiative is, supposedly, backed by the Executive Council, yet someone in middle-management who is stuck in the stone age can thumb his nose at them. It goes to show the arrogance that permeates HP management.
There is also the saying “If you can do your job from home, your job can be done from India.” A real morale-booster, for sure! If jobs were not tight in certain areas, HP would have to be adding more rapidly to the +30k headcount in India than they already are.
Such a shame for what once was a great company to work for. I would be willing to pay $50 more for a laptop that was supported out of the US, how ’bout you?
The easy way for us HP employees to fight the “no pay rise” situation, is to work fewer hours. Each year I go without a pay rise, results in me working 10% less hours the next year. SO 3 years and no pay rise = 30% less from me.. Seriously… Hurd is a fool to think he can maintain high performance without rewarding folks.
Gotta hand it to Mark Hurd. He figured out a great new way to finance employee “bonuses” by giving back the money he took away in pay cuts. Maybe if I get another pay cut this year I can get an even bigger bonus next year!
I’d like to see The Turd live on what he pays me! I’m a former EDSer and have never had a pay raise in the 3 years I have worked here even though I have moved up the ladder significantly within my organization. After pre-tax medical is taken out but before other taxes are subtracted, my total for 2009 was $24218! Yep, that’s right, less than $25,000!!! Rough estimates calculate that The Turd makes approximately $11,634.62 per hour as compared to my measely $12.67! I bet he wouldn’t survive 6 months on my pay, even if he had normal person debt as compared to what he has now. Suck it Turd, you are a piece of sh**!!!!
I left EDS/HP three months ago. I hope everyone else does the same.
Mark Hurds hypocrisy (taking huge bonuses while enforcing rapacious cuts on those who do the work) has created a culture of rebellion and bitterness.
HP is truly a horrible place to work. Execs only tools for management are false promises and fear, whilst rank and file employees don’t give a s**t.
The HP name for those in the company is now synonymous with lies and corporate greed of the worst kind.
Roll on the upturn.
And now, another cut is coming. Work is not being delivered and clients are LIVID. Read the Newsweek article that came out last week on how companies that cut just to hit numbers per quarter, fare historically. Not good. HP will destroy itself. Shame on you Mark Hurd, for expecting employees to work 60 - 70 hours per week and then giving out bonuses to a very tiny few and absolutely no raises. As a leader, I was shocked when I saw how small the bonus pool was. There is no pay for performance AT ALL. The train is coming Mr. Hurd - and all of your U.S. employees have bought their tickets. You will be the only one left - along with your top guys. You cannot continue to do the wrong thing and expect success.
Completely agree with #8 - only reason I’m still with hp is to be lazy and wait my turn to get downsized. I go now, i get nothing - instead work fewer hours and them quite leasurely ;-), and when I’m downsized, at least I get my redundancy entitlement. HP had a bad reputation as employer as well as vendor here (with EDS clients that had both EDS and HP doing work for them) before they bought EDS and I know now that it’s completely deserved!
The motto of HP is to treat people like c**p - then only unmotivated people or the incompetent ones remain and do poor work. all the while upper management is raking in the megabucks.
I am still more than happy to have left this company some months ago even having worked with it for almost 20 years…. HP was great years ago and it is a scandal what happend to the employees and to this company since a few years.
Another year is here and more changes brought on by our fearless leader Mark The Turd Hurd. Just filed my w2 and lets just say the number that matters is considerably smaller than before due to pay cuts. Oh, wait, I am lucky to be employed so why should I care how much I make to support my family…at least I have a j-o-b right? Now ontop of still having a paycut I get terrible health insurance that costs MORE money. PLUS all of the incentives are going up AGAIN. Having a company car at this point is the same price of having my own car. Reality is that no matter how bad he treats his employees there will always be another monkey that will do the same job for less. Welcome to the IT world of the 21st century.
Lets get one thing straight, he’s is very close to being the number one CEO in the world. Great job with HP , the company. How much would it hurt our profits if you gave the employees, a 5% bonus each - very little. Hey hold on , the minnions have done well how about 6 %? you are a money hungry f*****r and I know , you will die in hell
Highest bonus drawn CEO in fiscal 2008. Total of 66.7 mil in two fiscal year. I bet he is aiming for 33.3 mil this year to hit 100 mil and after which he will leave the company and enter politics. Just in time for 2012.
I have to agree with all the comments about moral, pay, benefits, etc. Things have gone down hill since we bought EDS for both sides.
Today, I was WFR’d, as were 3 other co-workers all HP pre-merger in Enterprise Services. Of that, 3 of us were top performers getting excellent reviews. I was even given a bonus of almost 7% this year.
But, I am on the chopping block. This is going to hurt HP in the long run when they are left with nothing but 3rd world countries running US companies IT departments and their customers get fed up with crap service.
I am resigning next week, have just had enough. HP has taken way more than it is worth, now I have deceided to go, I realise how demorised I am. I know it was bad, but the emotional releif to be exiting is huge. Anyone who complains without taking their own action, such as leaving, is weak. quit complaining or quit HP.
the company Bill and Dave created in there garage is gone, not it’s just greed and wall street. Get over it or get out.
For all people around HP (Employees and Customers),
GET OUT!!! HP is a very bad company. I was a top performer employee for years in a row!!! K rating since my first year and I got nothing…
For the employees,
Guys, the market is an option!!! Nothing is worse than HP!!! Get out!!!
For the customers,
The HP delivery happens only because of great people, once internal processes are very bad when does not exist…once great people are leaving your service is in risk!!! Get out!!!
The field service engineers at HP that work on the HP Indigo printing presses are forming a Union due to all the issues listed above, Please do the same.
I’m glad he felt he could give himself almost 100% bonus when he gave less than half of us a bonus and the amounts were only between 1% and 3%.
Let’s be clear on this.
HP was once a company that valued its employees, customers and community.
Not any more. What is the point of a business that does not look after customers and people - there is none. HP will continue to diminish and only exist because there are fewer options for customers.
Mark Hurd - you may have become rich, however your reputation is in total tatters with everyone but the cronies you surround yourself with.
It’s time to change the name of The Hewlett-Packard Company, as it resembles nothing of the founders, their innovation or values. Mark Hurd’s compensation for his contribution is the best case in point.
How about “Generic Bottom Line Short Term Operations Incorporated”?
Mark Hurd once told a reporter the following statement a couple of years ago, “It’s important to know when your work is done,”CEOs can stay too long.” My guess is that if asked to describe the culture that he has been establishing over the past five years, it would be impossible for him to do so. Ask any number of employees, both new and long term across the globe, they themselves cannot clearly articulate HP’s vision or values today. His team of “Starched Soldiers” in the Palo Alto ivory towers shrug at the mention of the names of the founders and their legacy especially in a group setting or meeting. In some cases, at several locations across the globe the “Hurd Doctrine” has produced an atmosphere of threat and intimidation. Needless to say, all the great attributes that made former companies; DEC, Compaq, EDS, etc. such outstanding places to work and great cultures to be a part of, have been systematically dismantled by the “Hurd Doctrine”. While he is a darling with the analysts and a great orator (BS’er), he has not produced any organic growth since arriving. At some point his style of growth, basically mergers and acquisitons, will grow old with his handpicked analysts and the honeymoon will be over. Then and only then will he heed the words that he uttered a couple of years ago, and I quote, “It’s important to know when your work is done, ,”CEOs can stay too long”.
Where’s my post from last night?
Have you guys started looking for other places to work? If you haven’t, you need to. I found HP to be an extremely toxic place to work, and for those of you who work 30% less than you’re expected, you only make it worse for those of us who maintain a high work ethic despite the surroundings. That wasn’t fair. And you’re ruining your own ability to work hard and your reputation will proceed you…
I also hear people say that they stay because of all the vacation they’ve built up. I don’t know about you guys, but I didn’t have the time to take all my time off, there was just too much work to do. Scrap the weeks and weeks of vacation and negotiate that benefit with a new employer.
I went to HP as a professional hire and I was being paid a ton of money. I compared notes - I know we weren’t supposed to, but we did. Those of you who have been there for years without a raise? People coming in from the outside are out earning you in a big way. I made a killing at HP. Don’t let HP exploit the economy by scaring you and making you think that you should just be happy to have a job. Get out there and look around. The longer you stay, the more demoralized you will become and then no one will want to hire you.
I agree with all above other than the people who don’t hard. How do you sleep at night? Screw what it does at the corporate level and consider what it does to the people who work side by side you everyday.
If you were to poll the non management employees at HP, I believe you’d find that overall the employees feel that HP as a company is a great company, but that senior leadership under Mark Hurd exists only to fill their own pockets at the expense of the employees and middle management.
The results of every internal survey I’ve seen so far all show that generally immediate supervisors and 2nd tier management are respected and employees feel they’re doing their jobs. Once you get into the executive ranks, the rank and file generally despise the direction lack of leadership, and lack of innovation that’s been present over the past few years.
I suspect that were our Mr Hurd to suddenly to find himself the subject of inquiries into unfair labor practices, he’d be unable to defend his positions.
I am worth what I am paid.
I have got the stock price up. And that is what that matters.
I will continue to drive the operating cost down so that we can redeploy the savings to grow the sale force.
I will continue to deliver positive results quarters after quarters.
Without my vision and dedication, you would be out of job by now.
I saved HP.
History will prove me right.
Stop whining and take it like a man. Times are bad. Everyone is expected to make sacrifice.
I did. I got a smaller bonus in 2009.
Mark,
To answer you, I have the followings to say:
The most important achievers in the history of man kind were not of your kind. They definitely did not need to protect themselves from people as they were liked by people. In addition, they definitely did not need to spend 300K per year on having personal bodyguards escorting them everywhere they go.
You are a simple salesman with a very short vision. Your highest ever achieved level of education is the basic undergrad degree from “Stone Age” era and your business background is very poorly developed as it is only financially driven. Your achievements are totally exaggerated and you are nothing short of an ordinary guy who has been given a chance to prepare HP for the future bankruptcy and you are doing an amazing job in driving it to that point.
Who would have thought large corporations such as Ericsson was one step away from filing for chapter 11? What about GM, Nortel and many other companies who went under? Don’t you ever think that HP is protected!
Currently, the economic conditions are in your favour and you have been cutting left and right from all over the place. You have not considered how you will keep the wave of workforce leaving HP, when the economy turns around and millions of jobs become available? Have you forgotten from 1998 to 2001 where US was importing qualified people (by millions) to work in different sectors? Have you forgotten companies were having trouble keeping their employees from leaving and accepting better paying jobs? Well I have some news for you and your MGMT Team: this will be happening to HP very soon…When the economy turns around and the world of business is in the race for getting larger market shares, you, your team and HP will fail!! At that point there would be no workforce other than your sale force left at HP (if any)!! The outside shareholders will drop you and HP like they are tossing their old newspapers.
When that happens, how would you keep the stock price up? How would you hold on to your competencies? Are any of the executive MGMT team members at HP competent enough to understand this? Does the board of directors at HP (you being among them) have enough understanding of my mentioned points?
I and many people at HP don’t think so, because you simply seem to think the sales guys can do the job and I strongly disagree. As you have pointed out, only time will tell… We will see the day that HP will pay a very expensive price because of your poor decisions and judgements.
Financials are only one aspect of the business and simply what keep a successful business moving forward are its loyal, happy and satisfied employees (none existent at HP).
Finally, you are a huge failure as far as HP’s future in concerned, because you have prepared the road for the HP workforce to leave the company on the first signs of a healthy and recovered economy.
Anti Mark
I very much agree with Anti Mark. I have been following what has been happening with HP over the past few years. When the CEO focuses on one department over all others, it is an indication of short sightedness. All other departments suffer for it. The results may not appear now in the short run but they will in the long run. Mark is focused on the short term goal of raising stock prices but places no emphasis on future sustainability. The whole corporation will pay for it.
What else can you expect from a bad salesman without any real understanding of a how a global business should run.
The irony of all this is, the depth of the damage he has caused will be fully apparent only after he is long gone. He will never truly understand or admit to the extent of the damage he is causing.
Hurt is anothere ex of corporate big boss greed. like the old cummunist bosses who took all the wealth of nations in the name of poor and used it only and only for there own , same thing is hapening in NA , its just not hurt or goldman .Corporate big boss greed is just eating up all wealth. Corporote thugs are at all the places , you name it and you will see in that company.Big corporations started by visionaries have been taken over by coprorate looters who, make there way up byhook or crook, with sole aim of getting more money. None of the ceo’s in morden era has vision ,primarily because they don’t care ,as they will be off the job in 5-6 years.So its like loot the world till you hold the key in your hand.Most of the big corporates now a days are not worth there brand name when there old visionary promoters go to heaven. There are still few companies who are in hands of the visionaries who stareted them and are still doing well, but are rare as big fishes in coporate world are not allowing innovation to survive. Just see how many less companies are left in technology area in alst 5-6 years, mostly eaten up by big 3 - H.P, IBM and oracle. And what does big whale does destroyes and eats them up and later on becomes so fat by eating that it itself dies. Merger of copmpanies operating in similar area is nothing but another way to monopolize the market and every one knows that but still instead of being bannned is considered a great act. Many friends are avising to leave h.p.. but my dear friends where will you go ? Big three whales have eaten up most of the good companies and they got sold out because big guys made there life very hard to survive, with all there money and muscle power. And its not only technology,- banking , health care, consumer goods , its happening at all places. Like in 30-and 40’s when corporate mall particess were common with a nexus , unfforunatley they have resurfaced with the starting of new century ,its just that they are hidden under new names now. Mergers, acquisitions - THE big thing tought in big Business schools today. Unforunate thing inthe age we live in is that all the things which were considered to be morally wrong 30 years back have been given new name and instutionlised such as merger, networking etc…Does any one has a solution to stop this corporate thuggery?
well… 2 years ago I left HP and went to IBM… and these days I’m finishing negotiations for return to HP… I have chosen less of two evils… man got to feed the family… If I got anything better I would pursue it for sure…
OSCAR, you are disappointing the audience !!
April 29th 2010 HP buys PALM
Guess that means no raises again this year for HP employees.
This just in HP is cutting pay again because Mark needs a vacation oh and he just bought another company.
Guess I won’t be getting my $250 bonus this year. Yes that is right folks my piece of crap boss gave me a $250 bonus.
Also HP employees will have the ability to purchase Palm products at, wait for it….the standard retail price. Thank you Mark Turd.
After reading the above, as a fomer EDS employee, now an HP employee, I can agree with just about all of it. Last November, we were all hurded (sorry for pun) into the NOC and told that we would be getting raises in 2010, and bonuses at the end of 2009. Well, we got the bonuses, which exactly matched what they held out of our pay when HP decided to cut everyones pay on the NMCI contract. This year, pay cuts still in effect, and now higher costs for medical and dental, so we took 2 pay hits. Not to mention the fact that EDS had a nice pension plan funded entirely by the company, and when HP stepped in, they stopped funding the pension plan.
I have read an article that stated Hurd believes that the company is everything. I am the opposite, I believe GOD should be on the top of that list. If He was, then Hurd would treat people as the valuable commodities that they really are, and reward them for thier efforts.
It is people, not machines, products, or promises that actually power HP.
Hurd is slowly breaking HP by how he views and treats the employees of this company. I also believe in Karma. Hurd will reap what he sows, if not now, then later, but it will happen. I congratulate anyone on this list that got a bonus for 2009. Good for you!
Bring back fiorina
Rot in Hell Mark Hurd, you have ruined many lives with WFR as you line your pockets with gold. How do you sleep at night ?
Wait unitll those customer’s servers to fail and you don’t have the resources to fix them . Mark, got tools ?
I left HP three months ago, I was dying, now my pay has doubled and I got some work/life back. HP has a business relationship with you, but you have a personal relationship with HP.
Look after yourself and quit complaining
EDS was once a good company, started by an a a Texan who was an American Hero named Ross Perot, who started the company with $1,000 & grew it into a Fortune 500 company that was a world leader, revolutionized the technology data market & he built his Flag Ship Headquarters in Plano Texas when there was nothing but dirt roads & because of Ross Perot & EDS, he developed the farm land into the Corporate Coridor, put Plano on the map & is the reason that Plano, Frisco, & all the cities surrounding being today’s most attractive areas to live, work, & play. Ross Perot knew how to treat his people at EDS & he took care of them & in turn EDSers were very loyal to Mr. Perot & EDS. EDS continued to stay strong after Mr. Perot left, as his structure continued, but that changed in what some call greed. Then came Dick Brown, that moved so many jobs out of the United States that EDS should have built a bridge to India, who was known for throwing chairs in anger in the board room, lavish office suite with personal a shower & who wanted to move the EDS Headquarters from Texas to the U.K. & worked hard at selling off most all of EDS assets including EDS own Headquarters building, cutting employee jobs, cutting benefits, cutting raises, cutting bonuses (for everyone except for the executive leadership) & ended up making EDS like Enron. Many Employees & Investors lost their retirement, kids college funds & their future stability after what the analyst had been saying for years under Dick Browns leadership that the company was not performing in what Dick Brown was leading the market to believe.Then came Mr. Jordan who brought his friends called the Feld Group that EDS paid to purchase the FELD Group who were all moved into leadership positions & out went the EDS leaders that still remained from all the lay-off & cuts that Dick Brown did. Thus began the plan to make EDS desirable to be sold-off & Ron Ritenmeyer (some called him Ritenfire) who many did not feel looked like a CEO nor did he act like one, lacking the typical CEO polish & the majority scratched their heads to him being put in the position, but he was put in place as the front face helping drive with Mr.Jordan & the Feld team to sale the company.Then came HP & the last good company called EDS died & us poor employees unders HP leadership got a wake-up call of that we were just a number & the Executives rape millions out of the company, leave it the rubble as they fly off to paradise island with poor, broken hearted and broken spirit employees. But sadly, these Executives feel they are worth the millions they are paid and get that mind set that they are owed that type of money, when they don’t really know what a hard days work is. I call them strip miners, as they swoop with slick tongues like politicians, use all the company assets to their own benefit and after stripping it of its value, they move on with pockets full of millions and golden parachutes.What is sad, it is making everyone to have to operate in a crude business manor to survive, to look out for themselves first, has destroyed loyality, destroyed trust, teaching the young future leaders greed over ethics, changing the business world that our kids will one day work, has taken the joy out of work, has created a person who will only do enough work to keep a job instead of contributing to the success of the company, have sold-out America by moving jobs out of America and the days of any loyality are over.There is no more of starting with a Company and Retiring with them, you spend everyday worrying if you will have a job tomorrow.God is the judge and it is not just business, we will be judged on the life we live, how we treated others, and those in-trusted in leadership of what kind of leaders they were. EDS was a world class company that had world class employees that ate, slept, breathed, and blead EDS of true loyality that has been destroyed and now forever lost. What examples and standards are companies setting for the kids that will be the future leaders that the leaders of today will be relying on them, as they will one day be the decision makers. How many jobs could have been saved for $24.2 million that was given to one person, spread that out for the entire executive pay and how many EDSers would be working towards to success of EDS/HP. Competitors are grabbing EDS employees who have been released, because EDS was known for hiring the best and EDSers were the top level worker of quality, integrity, honesty, and loyality. HP would be wise to look at retaining EDS employees and bringing back for former EDS employees, they came in cutting before really knowing the quality of an EDSer. The sad thing is that the worlds best company is no more and all the workers who remain are over worked, stressed, pay cuts, increase benefit costs, and under so much pressure that it is taking a toll on their health.
Lets face it EDS is gone, never to return. We are left with this sack of shit company called HP. If you want to make a difference grow a spine and join a union, then and only then can we get rid of the selfish greedy pig that we have for a CEO.
He gets 24 MIL while recently I get my salary reduced by 20% with 25yrs of experience with this company. I am so glad to be contributor to their welfare. I must live with less so as our CEO and top executives wont have to do without.
That $300K for bodyguards would have been much better spent on QA people, labs etc… Of course, so would about 20 of that 24 million… But Hurd doesn’t really care about the Customer. OR the stockholder… I bet there is no one who made $24M on HP in the last few years except Hurd. Organic growth? Somebody go knock on his door one evening and explain that concept to him…
Word is out. HP Sucks. Hurd better cut and run while he still can.
Let me break out my speeadsheet here… Let’s see… $24M USD / 5000 = 5000 Developers, QA Engineers, Delivery people (and, of course, their MGMT) all receiving a $4800.00 USD “bonus”… Granted to the “people that actually do the work”… What a concept!! Reward those that do, instead of those that talk about it (then cut things so it can’t be done)…
I think this may have been the road Bill and Dave were on. Following the CURRENT road leads me to….CALIGULA… And we all know what happened to Rome.
So if things are this bad??? Why don’t the employees at HP start a union??? I know unions suck in most part but for this company.. I really think it could do some good, I am not an employee at HP but I am married to one and just this year he was cut his sick time… holidays and so forth along with a 5% pay decrease… Not to mention he is has been on manditory overtime since Oct. 2009 (it’s July 2010 now) They do not allow flex time so he could work 40 hrs a week and yet he is still required to take 10 hrs pto because he didn’t work 50! This makes no sense… I think it is time for the employees to band together and teach HP and Mark Hurd a well needed lesson… and in this case Union is the only way to go!
As much as you think you know, none of you actually understand what its like to be in his situation. Yes, it wasn’t fair what he did to his workers, but companies must make sacrifices. As mad as you all are, none of you will ever fully understand what fully triggered his decisions. He doesn’t decide what he gets paid, the government does. He has made HP better, as much as you don’t want to admit it. Salaries are being reduced, but eventually they will get better, I hope. I know I will never personally understand any of your situations, and I am very sorry if I offended anyone. I just don’t think that its fair to bring him down, when none of you comprehend the decisions he had to make, or the consequences that came. Good luck to everyone.
Well, Caligula has fallen. Happy days are here again. With any luck, the HP Board will realize the error of their ways and hire a VISIONARY this time. Get back to “Invent” (notice that has been missing from recent HP Logos??)..
$50M to get rid of him was not a bad deal at all. Should have been done years ago. I’m sure Hurd is happy, since he only got a paltry $24M binus for 2009. Had to make that up _somehow_..
CEO _and_ Chairman? Hope the Board figures that one out… Absolute power corrupts absolutely (bring us back to Caligula, doesn’t it?).
There are no words to express my happiness in Hurd’s overdue and deserved departure (we will probably never hear the truth). I worked for HP for most of my adult life and at one time it was a FANTASTIC place to work.
Unfortunately, like the government, Mark Hurd, and Carly Fiorina were just pawns. To place the blame we need to look deeper at who is manipulating these CEO’s.
But I digress – goodbye Mark Thanks for your over paid service where you managed to destroy even more dedicated workers lives than even Carly.
Here is the REAL problem: CEO’s, top managements and Board members , top share holders (who are mostly CEO’s and top managements of other companies) are in a club where they decide/influence each other salaries/BONUSES. Their excuse for big bonuses is for performance/profits of the company (which is logical!) BUUTTTT if the performance/profits of the company is down..then huh…they either get less bonus or leave + GOLDEN parachute (ten of millions dollars)!
Translation:
————-
They have a contract where they always win whether their performance is good or bad!!!
Proposed solution:
———————-
IF CO. doing well they get the bonus, but if the company is doing bad they have to pay penalty accordingly!.
Example:
———-
HP stock goes up 10%, CEO makes 10 millions of bonus (on top of base of 1 million) THEN next year if stock goes down 8%, CEO has to pay back 8 millions in bonus (still with the base of 1 million base pay).
The problem still is: How do you get “the club” to agree on the above simple/fair compensation?……….Can some one help me out?!. …..
Please Stop, please listen.
“As much as you think you know, none of you actually understand what it’s like to be in his situation. “
And what situation is it exactly which requires a man to make up to 2000 times what his lowest paid workers make? What exactly entitles him to that level of pay and benefits? Do you truly believe that one man, whom I might add can’t even live by the rules we’re all expected to follow inside the company, has earned that much reward? I wholeheartedly believe that you pay your best performers more than someone who performs to a lesser degree, however, I do not believe that merely by right of position does anyone earn rewards to this degree while simultaneously removing employees that are generating income for the company. I suppose an argument could be made to support it, if your definition of performance is how much of the company’s money can you stick in one man’s pocket. By that measure he has far exceeded the abilities and performance of any other single employee. ( Yes I called him an employee, that’s what he was)
“Yes, it wasn’t fair what he did to his workers, but companies must make sacrifices.”
Companies must indeed make sacrifices when times are rough for the business. I think you’ll find it a tough sell convincing the tens of thousands who lost their gainful employment while the company brought in billions in profit, all the while the CEO was pursuing a private relationship at the companies expense since 2007, and pocketing 10s of millions in rewards. If a company is truly needs to make a sacrifice, many CEO’s will reduce their pay to 1 dollar a year, and focus on repairing the issue, rather than only repeating their one and only strategy.. cut heads.
“As mad as you all are, none of you will ever fully understand what fully triggered his decisions.”
I’m afraid that at this point, it seems fairly obvious that the one and only motivation in every decision was to increase his personal wealth no matter what the cost to the company or to the employees. Any spin applied to this is just that … spin.
“ He doesn’t decide what he gets paid, the government does.”
Entirely incorrect. The US Government does not set executive compensation levels. Since HP is incorporated in the US state of Delaware, I have to assume you’re implying that there is a federal or state regulation involved. I can assure you that this is not the case. While there are limits to how much compensation executives may receive to remain in specific tax brackets, or receive certain benefits, or in the case of certain industries ( financial institutions for one), the only limiting factor in Hurd’s employment contract in regards to total rewards is how and when he can redeem options or stock rewards.
“ He has made HP better, as much as you don’t want to admit it. “
Please educate us how he has made HP a better company. It’s quite obvious now that the prime product of the reign of terror has been to instill in every employee a hatred for those who sit at the board’s meeting table.
“Salaries are being reduced, but eventually they will get better, I hope.”
I’d prefer to be paid a competitive wage for the work I do, rather than hope it gets better. I don’t believe that’s an unfair expectation. In fact, if salary reductions were the effective tool that they have been promoted to be, then why wasn’t Hurd’s salary AND options reduced by the cuts? If you want a prime example of how completely unfair the salary cuts were, consider this. With the alignment of job codes between the legacy EDS personnel office and the HP system, it was discovered that there were many employees well above the median and subsequently their salaries were downward adjusted. But what happened to the thousand whose salaries were below the median, not due to underperformance, but due to the restrictive pay and rewards policies. As of this writing, to my knowledge that has never been addressed.
“I know I will never personally understand any of your situations, and I am very sorry if I offended anyone.”
You didn’t until the next sentence to be honest. I find it offensively dishonest, or perhaps naïve.
“ I just don’t think that its fair to bring him down, when none of you comprehend the decisions he had to make, or the consequences that came. Good luck to everyone.”
Considering you are completely unaware of any of the other poster’s educational or experience level, or even their past experiences in the business world, I find it difficult to believe this statement. Should you have said this in all sincerity, I’d suggest you study the situation anew. And good luck to you.