IBM Cutting Wages - HotHardware
IBM Cutting Wages

IBM Cutting Wages

In 2006 IBM settled a lawsuit brought by employees claiming they were denied overtime pay for some $65 million.  It appears that IBM is attempting to punish those same workers by cutting their base salary by 15 percent.

“IBM spokesman Fred McNeese said the move would not save the company any money, because the affected employees generally should find that overtime pay makes up for the salary cut.

However, internal documents obtained by The Associated Press indicate that many workers will lose money.”

It wouldn't be a surprise if there was another lawsuit brewing as a result of the pay cut.
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its things like this that make people panic in terms of spending.. everything has a domino effect. These workers are going to be loosing 15% of their salary. Thats 15% less those workers have to spend on items that would go back into the economy.. But as usual it's about shareholder profit at all cost. Keep pulling that rug out from under the middle class... see where our economy is in 5 years.

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