LONDON, February 19 /PRNewswire/ -- 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%, 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 1% compared to last year to GBP20bn, with profits of GBP1.3bn.
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.