NetApp CEO lays off 500 but takes delivery of $3 million jet

Daniel Warmenhoven treats himself to a Embraer Phenom 100.

NetApp, a maker of enterprise data storage systems, laid off about 500 of its 8,000 worldwide employees last Monday. On Wednesday, the Silicon Valley-based company announced a net loss of US$75 million last quarter.

So why does CEO Daniel Warmenhoven have a new jet? According to FAA records, Warmenhoven registered a Phenom 100 on January 28th. The plane, built by Brazilian company Embraer, seats four to six adults and typically sells for around US$3 million.

"The jet is privately owned and is not a NetApp corporate expense," said NetApp's director of corporate PR, Jodi Baumann. "Dan Warmenhoven purchased the jet 2 years ago as a personal expense. It was recently delivered to him due to a long wait list."

Warmenhoven makes an easy target in a downturn: His compensation last year was just shy of $6 million, according to Forbes, including nearly a million in salary.

Yet NetApp's chief isn't the only employee doing well. The company topped the latest list of Fortune's 100 best companies to work for. "The benefits are tops," Fortune's editors wrote. "The company has gained market share during the slump, hasn't had layoffs, and has more than US$2 billion in cash on hand to help it ride out the global financial crisis."

In that light, a jet doesn't seem like such a splurge.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags netapp

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Paul Boutin

The Industry Standard
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?