Feeds

HPaq execs pocket millions in merger payola

But peanuts for the staff

  • alert
  • submit to reddit

Internet Security Threat Report 2014

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®

Providing a secure and efficient Helpdesk

More from The Register

next story
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
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?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.