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Wage Reductions

BUSINESS
June 30, 2001 | Reuters
Hewlett-Packard Co. said it was asking employees, including Chief Executive Carly Fiorina, to either take a pay cut or use up accrued vacation days as part of cost-cutting efforts to help the computer and printer maker contend with a slowdown. "It's a 10% pay cut or eight paid vacation days," said HP spokesman Dave Berman. The program is voluntary, and employees can elect to take a pay cut lower than 10% or to surrender fewer than eight vacation days, he said.
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BUSINESS
May 31, 2000 | LOREN STEFFY, BLOOMBERG NEWS
Dell Computer Corp. founder and Chief Executive Michael Dell's pay tumbled 85% to $16.6 million as the No. 1 direct seller of personal computers wrestled with its worst performance in six years. Michael Dell's total compensation for the fiscal year ended Jan. 28 fell from almost $109 million a year earlier, the company said. The bulk of the decline came from fewer stock options.
SPORTS
September 14, 1993 | T.J. SIMERS, TIMES STAFF WRITER
Wide receiver Henry Ellard of the Rams is probably in the final year of his football career, and he doesn't know it. Ellard, one of 33 players in NFL history to have caught more than 500 passes, will earn $850,000 this season. When the season ends, Ellard will become a free agent and, based on the recent off-season's payoffs to free agents with his credentials, he expects to become a millionaire. "No way," said an official from one NFL team. "Salary cap.
NEWS
April 21, 1993 | CONSTANCE SOMMER, TIMES STAFF WRITER
Government programs to retrain laid-off workers from defense firms and other industries help most participants find new jobs but often at lower wages than they had been earning, labor experts told a House panel Tuesday. Officials told the subcommittee on Labor-Management Relations of the House Committee on Education and Labor that workers who enter retraining programs do not fare significantly better in the job market than those who receive only job search assistance.
NEWS
March 20, 1993 | LARRY GORDON, TIMES EDUCATION WRITER
Despite passionate pleas that another sharp fee increase will close the University of California's doors to many students, an unusually divided UC Board of Regents voted Friday to raise fees by $995, or 33%, for next fall and to temporarily cut employees' pay by 5%. As a result, average fees for a UC undergraduate who is a California resident will be $4,039 in the 1993-94 school year.
NEWS
March 13, 1993 | LARRY GORDON, TIMES EDUCATION WRITER
Students would see their basic fees rise by $995 next fall while faculty and staff would take a temporary 5% pay cut in 1993-94 under an emergency budget for the nine-campus University of California system proposed Friday by UC President Jack W. Peltason. After the hike, undergraduate fees for state residents would average $4,039, not including room and board--representing a 33% rise over this year and 150% over the past four years.
CALIFORNIA | LOCAL
October 15, 1992 | CHARISSE JONES, TIMES STAFF WRITER
Less than two weeks after the Los Angeles Board of Education imposed drastic pay cuts to balance its budget, officials are facing another shortfall of $10.5 million for this year--a deficit that could lead to deeper spending reductions for the financially beleaguered district, sources said Wednesday. In a memo to board members Wednesday, district financial officers said state and county education officials identified the deficit during an ongoing review of the state budget adopted in September.
NEWS
October 3, 1992 | CHARISSE JONES, TIMES STAFF WRITER
After a contentious debate over eleventh-hour spending cuts, the Los Angeles Board of Education ended months of fiscal turmoil Friday by adopting a final budget of $3.9 billion. But it could not avoid slicing $400 million in expenditures, including painful pay reductions of 9% this year for teachers and most employees. The board voted 6 to 1 to approve the spending plan, which must be submitted to the Los Angeles County Office of Education by Monday to meet a state deadline.
CALIFORNIA | LOCAL
September 16, 1992 | HECTOR TOBAR, TIMES STAFF WRITER
After two days of marathon negotiations with union representatives, Los Angeles County officials said Tuesday they will withdraw two controversial proposals to balance the county budget with sharp pay cuts for most employees. Chief Administrative Officer Richard B. Dixon also recommended, in a written memorandum to the Board of Supervisors, that the county accede to a key union demand and suspend all pay raises to top administrators and non-union employees for two years.
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