Local H-P Workers Split $1.8 Million

Wed., May 24, 1995

From Staff And Wire Reports

Hewlett-Packard Co. employees enjoyed the highest profit-sharing payout in company history Tuesday.

More than 830 Spokane employees received profit-sharing checks totaling $1.8 million. Including other Hewlett-Packard facilities in the state - at Vancouver, Lake Stevens and Bellevue - a total of $10.8 million was distributed to 3,703 Washington employees. Companywide, Hewlett-Packard distributed $255 million to more than 97,000 employes throughout the world.

A company news release says employees received 11.8 percent of their semi-annual pay. The secondhighest payout was in 1965 when profit-sharing was 9.95 percent for the second half of the year.

Net earnings for the first half of 1995, on which profit-sharing is based, were $1.2 billion, compared with $776 million for the first half of 1994.

Located at Liberty Lake, Hewlett-Packard’s Spokane operations include the Spokane Division, which manufactures testing equipment for the mobile phone industry, and the Surface Mount Technology Center, which assembles printed circuit boards. The company also has a sales office in the Spokane Valley.

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Local H-P Workers Split $1.8 Million

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