Feeds

HPaq execs pocket millions in merger payola

But peanuts for the staff

  • alert
  • submit to reddit

Intelligent flash storage arrays

HP boss Carly Fiorina yesterday promised staff a bonus of two days pay for bearing through the protracted SirCam merger with Compaq.

But this contrasts with the remuneration on offer to their senior management.

As a reward for sacking some of the 15,000 staff who won't be needed in the merged HPaq, HP's top management will pocket $33.1 million in retention bonuses. Compaq's team will receive $22.4 million. The bonuses hinge on the successful completion of the merger.

We knew that pushing boxes around a Visio document, and connecting them with lines was tricky - we just didn't realise how tricky.

Carly and Curly will selflessly forego their share of the $55.5 million executive payout.

The bonus for all staff will cost HP approximately $45 million, according to this SEC filing.

The filing details how the merger sprang from simple low-level talks between the respective CEOs - um, yes, we know - and was stalled by disagreements over structure and remuneration until finally being unveiled on Labor Day.

Recent HP SEC filings can be found here®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.