IBM Offers Retirement With Job Guarantee Through 2013

dcblogs writes "IBM is offering employees who are nearing retirement — and may be worried about a layoff — a one-time voluntary program that would ensure their employment through Dec. 31, 2013. The program, described in a letter addressed to IBM managers, 'offers participants 70% of their pay for working 60% of their schedule.' Participating employees would receive 'the same benefits they do today, most at a full-time level, including health benefits and 401(k) Plus Plan automatic company contributions.' In 2006, IBM employed about 127,000 in U.S. The Alliance@IBM, a CWA local, now estimates the U.S. workforce at around 95,000. How far IBM will go in cutting is up for debate, including one radical estimate."

Comments

Re:They're acting like they're in trouble!

[dkleinsc]

The longer people on the payroll

That's an odd way of making the decision - there are very few businesses where how long somebody is has anything to do with their job performance.

Re:They're acting like they're in trouble!

[houghi]

I used to work at a company and they decided that each department needed a 50% cut in staff. This was calculated on actual staff, not on people actually being there.

One department should have 4 people. It was 2 people understaffed, so they fired one. Person got a nice handshake to leave. I believe several months (7 or 8) pay.

That person was re-hired after a month. I would not be surprised ig that person was hired with a higher pay then before.