Salary Reduction Letter - Consent Required
Addendum to the Employment Contract
Singapore
Name:
Employee ID:
With the current challenges of the global economy and its effect on our revenues, the Hewlett Packard ('HP') Group of companies needs to take cost actions to keep the organization strong while creating financial flexibility that will help better position HP to compete and win in the marketplace. In an effort to reduce operating costs and minimize possible redundancies, Hewlett-Packard Asia Pacific Pte Ltd ('Company') is asking all its employees, as part of a global initiative within HP Group of companies, to voluntarily consent to a base salary reduction and a corresponding reduction in any salary-related benefits. We greatly appreciate your understanding and support in this difficult and challenging time, and trust that your efforts to cooperate with Company policies will yield positive results for the operations of the Company. If you have questions, please refer to the FAQ at http://intranet.hp.com/APJ/Region/Pages/PP.aspx or log a case via HP Contact-HR/ EDS ConnectHR. We would appreciate you providing a response to this request by March 20, 2009.
By clicking on the 'I agree' voting button above, it will be legally binding and you will receive an email confirming your response. With your agreement, your base salary will be reduced by 10%/5% with effect from April 1, 2009/May 1,2009 (depending on which wave you belong), and a corresponding reduction in any salary-related benefits, including Central Provident Fund contribution, Term Life Insurance, Personal Accident Insurance, Annual Wage Supplement, SOP, Vacation Leave encashment (earned unused upon termination) and Overtime payment, if eligible.
By clicking on 'I do not agree' voting button above, Employee does not accept the revised terms and declines the amendment to the Employee's contract of employment with the Company.
Important Note for voting button:
- The consent button does not work in Outlook Express, Outlook Web Access, other email clients, or on PDA's.
Please open the email in Microsoft Outlook.
- If you use Outlook 2007 version, please click on 'Vote' button and select your option'.
- If you continue to have problems with buttons, you may reply to the email and ensure that the appropriate consent response is placed at the beginning of the email subject, for example, modify the subject line to be 'I Agree: Consent to Total Reward Changes- Employee Name / Employee Number / SGP '