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To: Trey McAtee who wrote (36841)	8/3/1998 4:52:00 PM
From: phbolton	Read Replies (1) \| Respond to of 53903

Hewlett-Packard will impose a three-month, 5 percent pay cut for about 2,400 mid- to upper-level managers as part of an ongoing effort to bring its costs under control. ÿÿÿÿ The computer giant, which has had a string of disappointing quarters and last week warned its upcoming third-quarter report would be no different, also said it will close its U.S. offices for four days between Christmas and the New Year. ÿÿÿÿ "This is a second wave of cost-cutting measures," said a company spokeswoman, who explained Hewlett-Packard has already restricted hiring and cut back on employee travel. ÿÿÿÿ The latest cost cutting moves will be the first time since 1985 that the company cut salaries and closed its offices during unscheduled holidays. abcnews.com