Four top EDS executives are leaving their jobs to "explore other opportunities" as part of the sprawling services company's layoff-and-pay-cut-heavy digestion by Hewlett-Packard.
EDS will see Tom Haubenstricker, head of finance; Mike Koehler, head of EDS Americas region; and Mike Paolucci, head of human resources depart the the company in May. Bobby Grisham, who oversees EDS sales, will retire in June.
According to the Sacramento Business Journal, Koehler is being replaced by Andy Mattes, who currently oversees application services. Paolucci will be succeeded by HP veteran Shawn Williams. There's currently no permanent replacements for Grisham and Haubenstriker, although the latter's spot will be filled by chief administrations officer Pete Bocian until his replacement is found.
The latest EDS exec exodus is just one of many financial squeezes put on the company since it was purchased by HP.
After EDS announced it would be acquired for $13.9bn last year, HP chief Mark Hurd — a man well known for swinging the axe in the name of the bottom line — announced plans to cull nearly 25,000 jobs to consolidate EDS into HP's existing services wing.
HP also recently instituted a permanent company-wide five per cent pay cut on top of a 10 per cent wage reduction for US workers at EDS for April.
Hurd, meanwhile, said he was taking a 20 per cent base salary cut. Quite a sacrifice, unless of course he gets anything like the $23.9m cash bonus he received last year. ®