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International Business Machines Corporation Message Board

  • louscashcow louscashcow Dec 7, 2012 12:04 PM Flag

    IBM latest pension cut hits older employees hardest.....again.

    This latest cut in the pension hits the people who were hit just 4 years ago especially hard. IBM was putting money into the 401k to soften the cut to the defined plan for those few employees who are still eligible for it. Under the latest change, those employees now lose the entire year of investment income. It could not come at a worse time for them. This hits just as they reach retirement age or are planning retirement. Moving the retirement income target for those employees once again. When the people that brought you success start questioning why it is happening to them, IBM is in trouble. IBM is targeting the only people with legacy knowledge of the inner processes and any kind fo work ethic.
    It is scary to think that the people who make these decisions are either so insulated from what is being said on the ground floor of IBM or they don't care. Either way, it apperas that they are oblivious to the lower than whale s**t moral that is rampant at almost every level beneath VP.

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