No 2017 Bonus for You, Hewlett Packard Tells Employees

Megalith

Megalith

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Not even senior executives at Hewlett Packard will be taking home a bonus this year, as all of the company’s major hardware units reported declines and total revenue dropped 6 percent. One element of employees' compensation is an annual variable bonus that is dependent on hitting business targets and then distributed based on individual performance.

"Other segments performed at or above budget and therefore the bonus was funded. Our employees are critical to HPE's success, but we are a company that pays for performance, and having our rewards programs fully aligned to our business metrics is important to us. It's important to note that none of our senior executives received an annual bonus."
 
Paying employees with money that cost them 15% less to produce (remember the inflation monkey) and they still dont turn a profit?
 
"annual variable bonus that is dependent on hitting business targets and then distributed based on individual performance."

Isn't this how all jobs should be? Work harder and better than others, get compensated better? Snowflakes be damned.
 
Glad I work for HPi, which ironically is the picture that is posted. HPE doesn't use that logo fyi, theirs is the big ugly green rectangle.
HPi did great this year, no idea how HPE keeps sucking.
 
So let me get this straight. They still made massive profits, but they made slightly less massive profits. So, let's fuck over everyone, for the mistakes of only a few. Ya, sounds like a great way to get the loyalty of employees.

Schtask said:
Sadly, bonuses haven't been handed out at any of the HPs for awhile. The sales guys suffered the most on this. I feel bad for them... The employees feel it the worst. There are guys there that haven't seen a pay raise in 5 years. Not even the customary 3% increase...and they wonder why attrition has quadrupled in the last 12 months.
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Sounds like a company I would have left. Just because the company's profit goals weren't met, doesn't mean my work quality has deteriorated. Work incentives shouldn't be based off a company's success, unless the company ends up running in the red.
 
HorseproofBacon said:
"annual variable bonus that is dependent on hitting business targets and then distributed based on individual performance."

Isn't this how all jobs should be? Work harder and better than others, get compensated better? Snowflakes be damned.
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That part is fine, it's the "hitting business targets" that I don't like. If the business has unrealistic targets or they don't change business targets to account for changes in the market, then your individual performance is never going to come into play.

If they say,"We aim to have 5% increase in sales this year", but then they have a supply shortage that's out of the company's control, they might not reach that 5% increase. My raise or bonus isn't going to be affected by my individual performance. It's affected by something completely out of my control.
 
krotch said:
That part is fine, it's the "hitting business targets" that I don't like. If the business has unrealistic targets or they don't change business targets to account for changes in the market, then your individual performance is never going to come into play.

If they say,"We aim to have 5% increase in sales this year", but then they have a supply shortage that's out of the company's control, they might not reach that 5% increase. My raise or bonus isn't going to be affected by my individual performance. It's affected by something completely out of my control.
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When did a bonus become an expectation? Every era in my career cycle bonus money has been directly attributable to performance of the organization.

Also if you have the attitude "completely out of my control" you didn't deserve a bonus anyway... you are a member of the organization and the performance of every org is not only top but runs to the bottom as well.
 
Sounds 100% legitimate to me. Bonuses come from set monetary goals, and if you don't make that cash, you don't get that cash. It's a bit of a gamble but anyone that has ever had a commission type sales job in their life knows that when it's good it's REALLY good and when it's bad, well, it's just debilitating.

Unfortunately a LOT of people are a little fast and loose with their income, and tend to ASSUME they will always get the bonus and build it into their spending habits (which is often all of their money), setting themselves up for a mass bitchfest when they don't get their bonus.
 
Schtask said:
Sadly, bonuses haven't been handed out at any of the HPs for awhile. The sales guys suffered the most on this. I feel bad for them... The employees feel it the worst. There are guys there that haven't seen a pay raise in 5 years. Not even the customary 3% increase...and they wonder why attrition has quadrupled in the last 12 months.
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That's simply not true. I've gotten 2-5% bonuses for the last three years and 15% in raises. It just depends on which group you're in. I'm not there anymore because of all the asset-stripping value-unlocking that's been done, but would still rather be there than where I ended up.
 
lol, we haven't had bonuses at work in years and raises are about 1-2% if your are lucky to get one ever other year. Lots of places don't give bonuses.
 
bonus for senior execs are like sprinkles on top of the frosted muffin.

imagine if they announce that there will be no more golden parachutes and stock options instead
 
westrock2000 said:
They couldn't make a profit in this years economy? Ouch.

This has been our best year EVER. Electronics are selling like hot cakes around the world. Been at max profit sharing since January 1st.
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Probably CEO felt not enough profit to share with employees below the top executive level. So it looks better with shareholders how much profit they made... Typical corporate bullshit but hey, we just need to get with the program. I've been through many such cases myself when company announced they made all this profile but then said no raise or bonus. PR department either doesn't care or has too much disconnect from folks who make these decisions.
 
No bonuses? Hope they told people before they put a down payment on that pool.
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  • Clark: No, Eddie. It was my fault. I lost my temper when I got my bonus and I guess I said a few thing I shouldn't have.
  • Mr. Frank Shirley: Bonus? How did you get a bonus? I cut out bonuses this year.
  • Clark: Yeah. Thanks for telling us. I was expecting a check. Instead I got enrolled in a jelly club. 17 years with the company. I've gotten a Christmas bonus every year but this one. You don't want to give bonuses, fine. But when people count on them as their salary, well what you did just plain...
  • Rusty Griswold: Sucks.
  • Clark: Thank you, Russ. My cousin-in-law, whose heart is bigger than his brain...
  • Eddie: Appreciate that, Clark.
  • Clark: Is innocent. I'll be more than happy to take the rap on this, on behalf of myself and every other employee you rear-ended this Christmas.
 
jedijeb13 said:
lol, we haven't had bonuses at work in years and raises are about 1-2% if your are lucky to get one ever other year. Lots of places don't give bonuses.
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Well, don't worry. Corporate tax rates being slashed will increase profits and certainly some of these profits will be passed on to the emphahahahahahaha I can't even
 
I can report the energy sector is doing well. For me, 2 raises this year (1 of them @ 3% for the annual, the other @ 12% for progression) and a 8% of salary bonus from the previous operating year (2016). This year, our bonus is going to be 15% of salary, and I'm getting another 3% annual raise, and a 15% raise for progression to a lead engineering position. Between that and my 401k growing over 35% this year, it's yuge. I can't recall anytime in the past in my career that has been better.
 
Sounds like mass layoffs are in order. Couldn't be a problem at the top at all.......
 
USB drives were invented in the late 90s and early 2000s printers were all the thing HP needs to compete with Epson printers which makes the Eco Tank printers. The only reason why I went though like a 1/2 dozen printers were for printing out comic books but even then it was costly and the ink would just damage the paper because it was dense from the ink jet printing heads. If I ever picked up a printer again I would get a Laser because those have really come along nicely. I used to print out emails I got from famous people as well but even that got redundant.
 
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Comixbooks said:
USB drives were invented in the late 90s and early 2000s printers were all the thing HP needs to compete with Epson printers which makes the Eco Tank printers. The only reason why I went though like a 1/2 dozen printers were for printing out comic books but even then it was costly and the ink would just damage the paper because it was dense from the ink jet printing heads. If I ever picked up a printer again I would get a Laser because those have really come along nicely. I used to print out emails I got from famous people as well but even that got redundant.
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Wrong HP. They split the personal computing and printing into HP Inc, and the enterprise business into HPE. This article is referring to HPE.

Apparently HP Inc. is doing better than HPE. Nice to see the PC market is reorienting to growth segments.
 
Bonuses are a lot like tips, most jobs that get neither see them, roll eyes and sigh and the concept of getting extra stuff for essentially doing your job as you're supposed to.
 
Cyraxx said:
sooooooooooooo glad they laid me off and outsourced my job to Guadalajara 5+ years ago. My life has increased 10 fold.
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They did the same to me back in 2009. Hired a bunch of barely-English speaking personnel at Guadalajara, our team showed them the basics to get going with certain job functions, then they canned all of us after they felt the Guadalajara folks were adequately trained. Just as you said, I am also in a much better place for both work and life now since that happened.
 
HorseproofBacon said:
"annual variable bonus that is dependent on hitting business targets and then distributed based on individual performance."

Isn't this how all jobs should be? Work harder and better than others, get compensated better? Snowflakes be damned.
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The targets aren't truly set set as out-of-contract demands by clients to expand project scopes while not increasing staffing, extending deadlines or adjusting targets to match reality. If sales, project management and operations can't work in lockstep and sales/PMs make their quotas by breaking operations backs there should be penalties applied for not properly aligning with the contract. Especially, if they're selling or expanding business without complete and solid targets and no excess in the budget for ops to hire additional staff to supplement.
 
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