Hewlett-Packard is giving CEO Meg Whitman a huge pay raise as she enters the third year of her attempt to turn around the slumping personal computer and printer maker.<\/p>\n
Regulatory documents filed Tuesday disclose that Whitman’s annual salary is soaring to $1.5 million from $1. The raise is retroactive to Nov. 1, the start of HP’s fiscal year.<\/p>\n
Whitman is a billionaire who had agreed to limit her salary to $1 annually when HP hired her as CEO in September 2011. The sacrifice came as HP prepared to eliminate nearly 30,000 jobs to offset a drop in revenue from declining PC sales amid a shift to mobile computers.<\/p>\n
HP’s revenue is still falling, but the company’s stock has risen by 20 percent since Whitman took over.<\/p>\n
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