IBM Cuts pay

[GoPackGo]

Link

 

[Engineer]

A reoccuring trend. My company, an automotive supplier, cut pay at one plant last week by as much as 15% even though we are profitable (just not enough). Pay raises have been put on hold. 401k matches were removed 2 years ago. Health insurance is up very much (that's everywhere though). Overtime pay has been cut for many people in salary (plant dependent).

Keeping the profits rising.....

🙂 for stockholders....🙁 for employees

 

[LunarRay]

IBM is cutting the amount it is willing to pay its contractors for technical 'help'. They are trying to bring their contractors in line with their outsouced cost structure.... Is my guess...

 

[conjur]

It'll change once the stock market starts gaining consistently again. Just like insurance companies cracking down now on tort reform. They're not making as much money on their investments so they look elsewhere. When the markets rise again, tort reform will be relegated to the backburner again.

But, for now, corporate profits are rising and worker salaries are flat-lined, at best.

 

[dmcowen674]

Originally posted by: Engineer
A reoccuring trend. My company, an automotive supplier, cut pay at one plant last week by as much as 15% even though we are profitable (just not enough). Pay raises have been put on hold. 401k matches were removed 2 years ago. Health insurance is up very much (that's everywhere though). Overtime pay has been cut for many people in salary (plant dependent).

Keeping the profits rising.....

🙂 for stockholders....🙁 for employees

It's all in the imagination of those folks according to the Bush Regime and loyal followers on here (CAD & Co). They insist wages are rising.