Pros

HP still commands some respect as a brand name employer in your resume, good work/life balance, some great people still working here who exemplify the old HP Way, even though they are gradually leaving the company in search of greener pastures and in their place, come in the 'foreign talents'...

Cons

1. Below industry average pay. Salary and benefits continue to get reduced. Recently, all employees are "asked" to consent to 5% pay cut which will be a PERMANENT cut. Which means that even after the economy recovers, HP may not be going to reinstate the pay cut back to you.

2. Short sightedness of the top management when it comes to chartering rewards and incentives policies. If you are an individual contributor, 1 mth bonus is the norm for K performing employees. Don't expect anything more than that. Even then, objectives for getting that bonus are getting more and more ambiguous, with your immediate manager having more flexibility in deciding how much of the bonus pie you get.

3. Career growth and advancement opportunities are almost non-existent. After 2 years, you will likely become stuck at doing the same work routine over and over again for the rest of your working life.

Advice to Senior Management

Step aside, Mark Hurd. It's time for a CEO change. Your people are growing very dissatisfied with the way you are taking advantage of the poor economic situation and shafting them and I can forsee that when the economy recovers, there will be a mass exodus of many highly talented people.