HP Asks Workers to Cut Pay, Use Vacation Days

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.

The company declined to specify the amount of cost savings it hopes to achieve.