Benefits:5-29-04 Microsoft cuts Employee benefits

[dmcowen674]

Funny how just a few short weeks ago when I said we are moving towards all Companies operating without giving any benefits to any employees and the folks in here said that will never happen.

Now the World's richest Corporation jumps on that very Band Wagon.

It's obvious Bill must read these Forums:

5-29-2004 Microsoft Workers Grumble on Benefit Cuts

SEATTLE - Nearly three-quarters of some 3,000 Microsoft Corp. employees told the world's largest software maker that they were "very dissatisfied" with recently announced cuts to their generous benefits plan, according to an informal poll on an internal company Web site.

Microsoft, famous for using a gold-plated benefits plan to win loyal employees willing to work long hours, last week notified staff it was cutting their stock discounts, prescription drug payments and parental leave.

Microsoft said the cuts will save it $80 million, as it aims to trim more than $1 billion from its cost structure this year. The software maker has $56 billion in cash on hand.

The recent poll, obtained by Reuters, showed an unusual degree of dissatisfaction among Microsoft's workers.

 

[imported_Aelius]

Many other major corporations on the Fortune 500 are doing this. Like.... Intel.

For actions like this they should have their stocks driven into the ground but instead they will introduce some BS plan like allowing employees to purchase stock at highly reduced prices. What they don't say is that its only 10 or 50 stocks, but it allows companies like this to pull this sort of thing and still remain on the "best places to work" list.

Lame.

It also trivializes many of the elite Wallstreet lists were the "requirements" to get on them are obviously being abused by some of the best known brands.

Its obvious that corporate America is not taking its own corporate requirements seriously even after Enron, WorldCom and others.

Not to mention the fact that its still obvious that corporations are getting away with murder, figuratively and litterally.

Have some of you here read about some of stuff Intel does to its employees regarding medical claims? At first I couldn't belieave it but you won't catch me dead buying another Intel product ever after the research I did.

 

[Bowfinger]

Originally posted by: Aelius
[ ... ]
Have some of you here read about some of stuff Intel does to its employees regarding medical claims? At first I couldn't belieave it but you won't catch me dead buying another Intel product ever after the research I did.

No I haven't. Sounds like a potentially worthy topic. Do you have a link?

 

[imported_Aelius]

Enjoy.

http://www.faceintel.com/

 

[XZeroII]

um, so their benefits package goes from platinum to gold. I would still kill to get their benefits package.

 

[alchemize]

Originally posted by: XZeroII
um, so their benefits package goes from platinum to gold. I would still kill to get their benefits package.

Heh yah they aren't making millionares any more. Cry me a river.

Microsoft also said that U.S. employees will have to take their four weeks of paid parental leave within six months of the birth or adoption of a child, instead of a year.

Oh WAAAH. 4 Weeks Paid???? Within 6 months! Oh the Brutality!

Microsoft will reduce the discount employees receive when buying company stock to 10 percent from 15 percent.

Oh waaah. Only 10% discount on M$ stock? I actually get 15% discount, but my stock ain't M$, much more risky.

Beginning next year, Microsoft's U.S. employees must buy for generic prescription drugs instead of brand-name drugs for health care.

Oh fricken waah.

Other perks, such as its no-cost health plan, gym memberships and well-known policy of providing a variety of free beverages,

Dave, you are a joke.