According to statements published by the Australian Services Union (ASU), after IBM Flightdeck employee meetings in June, the 46 Flightdeck employees in the union voted to apply for a protected action ballot with the Australian Industrial Relations Commission (AIRC) which would decide whether to take legal industrial action.
The aim of the negotiations was to achieve rights for all Flightdeck employees including regular pay rises, pay equity, travel allowance, fair redundancy and retrenchment provisions, paid shift handover periods, fair access to leave entitlements and time off in lieu, shift penalties and the option to work from home.
The deal, announced in October 2007 as a £400m shared services agreement spanning 10 years, created a new private company to which 1,500 council workers will transfer. It was set up by IBM, Somerset County Council, Taunton Deane Borough Council and the Avon and Somerset Police Authority. The new company was called Southwest One. Unison claims that neither it nor staff were given enough details of the outsourcing deal, and that only parts of the deal were revealed to them.
My IBM pension amounts to roughly 25% of my annual salary.
In the interim since I left IBM, I have applied to over 1000 jobs but, this having failed to produce a job, I now work as a proofreader making 15/hr and I'm finding it impossible to make ends meet.
I hope that Sam P (for whom I provided technical support & account planning prior to his coronation) experiences a period of personal suffering equivalent to the suffering he has brought down on so many who gave so much for the privilege of working for "such a great company".
Wrong! IBM just told me that overtime is being cut out. In fact, the several days a year I must work Saturdays and/or Sundays (every quarterly close) my manager says I should adjust my work week, so that I do not get overtime, but instead, get two days off. Clearly in violation of IBM HR policy on overtime. Am I getting my 15% pay cut back. What do you think?
Things were good in the 50's. I remember family outings, large dinners with excellent entertainment, fun in the sun days, IBM means service awards, silver spoons when a new arrival came along, managers required to visit retirees once a year to see how they were doing, flowers and manager's visit when someone in the family died, I could go on an on.
My retirement was OK in the early years. good medical coverage etc. I took leveling so I retired at 55 and had a little extra income until I turned 65, but along came the "cookie monster" and the world changed. Now with UHC and paying for premiums, my health care is actually non-existent from IBM. I think the most significant change for me is not being able to get info on almost any subject from anyone in IBM. I learned more from sites like this.
Current employees and recent retirees must be going through an agonizing time with the changes that have taken place and I believe you have one person who started these changes which have continued through the years to blame. Sorry for the ranting and raving but I had to get this off my mind. Things were good once. Maybe they will return some day.
Some changes were good -- removing excessive layers of management, for example. Some changes were bad, such as layoffs without retraining or redeploying. Then things just started going downhill, and by 1995 I noticed that IBM could be any company at all.
The death blow as far as I can tell was with the acquisition of Price Waterhouse Cooper, because IBM brought in many of their managers as IBM managers with no training or IBM indoctrination at all. Those managers sucked beyond belief and have taken over IBM completely.
My father, who retired nearly 20 years ago, was given a choice of really nice gifts which were worth about $1000. For his Quarter Century Club gift he got a Rolex watch and a check for $1000.
I just retired at 55 and got to choose both my QCC gift and my retirement gift at the same time. The QCC gifts are really pretty decent, and can be bought on Amazon for around $900. I chose a 32" Sharp Aquos HD LCDTV, and had lots of other cool choices in jewelry, housewares and electronics. However, the retirement gifts were pretty chintzy -- and I was so underwhelmed with the first gift I chose that I sent it back and chose a different one.
All the gifts can be bought on Amazon for $200 or less, and I had a hard time finding anything I even wanted. (The jewelry choices include tiny little freshwater pearl necklaces or rings set in birthstone gems like garnets and blue quartz, and department store watches. Houseware items are things like small Waterford lamps and beverage sets.)
But the thing that nearly killed my father when I told him was that my retirement letter from Sam P misspelled my first name. He said both of the Watsons must be spinning like tops in their graves!
Me? They cut me short 30 days in 2006, with 28 Y 11 M, making me ineligible to bridge 1 lousy year to get my pension in 2008. My manager did jack to help me. I was only 52 at the time. (Maybe I should have been laid off in 1993). I will hopefully start receiving a pension in 2010.
My brother? Missed the old pension plan by 30 days, and figured out he must work 8 more years to be able to think of any kind of health benefits, which will cost him anyway.
I was on COBRA for about 12 months, at employee price of $328 month. I stopped it before they had a chance to kill me with monthly premiums over $1000. Now I have benefits thru a state job, and will have a pension in 9 years, if I live that long.
My brother will be too old to get another high paying job, and has no college. He better have a hefty 401k. So, yea my father is spinning with the Watsons.
I volunteer at the IRS-sponsored tax assistance centers from January - April, and again from August-October. Preparing income tax returns for lower income people is a real eye-opener after spending my whole life working and being around people whose incomes put them in the upper middle class range. Although I hated being kicked out of my job, I am definitely much happier now!
The Society of Professional Engineering Employees in Aerospace (SPEEA), IFPTE Local 2001, formally requested the information from Boeing after a recent investigative news report by The Wall Street Journal uncovered U.S. corporations funding executive pensions by funneling funds through regular employee plans. This practice weakens employees' pensions while allowing corporations to take advantage of huge tax benefits not normally available for executive pension plans.
In the Aug. 4, page-one, report, The Wall Street Journal called the pension maneuvers by corporations a "dubious use of tax law" that "risks harming regular workers."
Nearly 40 percent of California's work force, totaling 5.4 million workers, do not have the right to take paid time off work when they are sick, according to data from the Institute for Women's Policy Research, or IWPR, in Washington, D.C. “People are losing their pay, losing their jobs or being penalized in some other way because they had to stay home sick or to take care of a sick child,” said Vicky Lovell, acting director of research at the IWPR.
As with so many other things regarding worker health and safety, the United States stands virtually alone in not guaranteeing workers paid leave when they get sick. In 145 other countries – including Japan and the top economies of Western Europe – employers are legally required to provide paid sick days or short-or long-term leave for illnesses. In 127 countries, employers must provide at least one week of paid sick leave per year. In contrast, outside of San Francisco – which recently passed its own law on paid sick leave – there is no such requirement in the United States.
Cost-cutting in New York and London has already been brutal thus far this year, and there is more to come in the next few months. New York City financial firms expect to hand out some $18 billion less in pay and benefits this year than 2007, the largest one-year drop ever. Over all, United States banks will cut 200,000 employees by 2009, the banking consultancy Celent said in April. The work these bankers were doing is not necessarily going away, though. Instead, jobs are popping up in places like India and Eastern Europe, often where healthier local markets exist. ...
Proponents of the change say Wall Street’s wary embrace of the activity may signal the beginning of a profound shift in the way investment banks are structured, with everyone but the top deal makers, client representatives and the bank management permanently relocated to cheaper locales like India, the Philippines and Eastern Europe. In the future, executives in India like to joke, the only function for highly paid bankers in New York or London will be to greet clients and shake hands when the deals close.
One other thing, I haven't yet said anything to my management about retirement, but feel I probably own them a heads-up as soon as I get my act together. What are the unofficial rules on family medical emergencies, etc? Should I use up all my vacation days in taking my husband for blood tests, Dr appointments, hospital stays? My boss is brand new to management, but so far has been supportive in "taking all the time I need" to get through last week's emergencies. Thanks in advance for any insight that you can give.
Even the giveaways send a message. Instead of post-it notes and highlighters, some companies are handing out tree seedlings and recycled bags, said Laura Bochenek Klein, an associate director in Rice University's career services center. Some employers are taking it a step farther. IBM, for instance, is debuting a new recruiting campaign with the tagline "Work for the World. Start @ IBM."
IBM's brochures highlight the company's involvement in green technology and innovations in helping the blind experience streaming video and animation. It tells prospective employees: "You will make a difference...you might contribute on a grand scale or perhaps influence the life of a single individual." Recruiters, meanwhile, will further explain the tech giant's efforts in cleaning up rivers around the world or aiding employees who volunteer in their local schools. The company hopes that showcasing such initiatives will lure top college talent.
The decision effectively restores about 1,000 retirees' and dependents' health-care benefits to levels before July 1, 2004, an attorney for the union retirees said. It requires the company to compensate the class members for premiums they paid since then — which the plaintiffs' attorney estimated were between $6 million and $12 million. ...
"This is a great victory for our retirees," James Watson, the union's local directing business representative, said in a prepared statement. "They deserve the benefits they fought for during their years with the company, and a dignified retirement without the worry of skyrocketing medical premiums on a fixed income." ...
At issue in the lawsuit was whether Raytheon could decide to cut benefits to its employees between the time they retired early and the standard retirement age of 65. In granting summary judgment for the workers on Monday, U.S. District Judge David C. Bury said the collective-bargaining agreements established between 1990 and 1999 "unambiguously provide vested medical benefits for retirees until age 65 at no cost."
And governments are concerned about delivering on the promises that they have made to their citizens and to their employees as tax revenues shrink amid a weakening economy. In this environment, some have proposed replacing traditional defined benefit (DB) pensions with 401(k)-type defined contribution (DC) retirement savings plans in an effort to save money.
But decision-makers would be wise to look before they leap. To deliver the same level of retirement benefits, a DB plan can do the job at almost half the cost of a DC plan. Hence, DB plans should remain an integral part of retirement income security in an increasingly uncertain world because they offer employers and employees the best bang for the buck.
Since the early 1980s, Social Security has been taking in more in worker contributions than it has been paying out in benefits. This has resulted in a growing trust fund of more than $2 trillion. These reserves are projected to grow for another decade, and then will decline and run out in 2041. If no action is taken, benefits will have to be cut by about 25%, as they will be funded entirely from current contributions. Even if lawmakers allowed this to happen, future retirees will receive benefits that are more generous than those received by previous generations. Retiring at 65, the typical young adult born between 1980 and 1990 will receive retirement benefits valued at $188,000 in 2007 dollars, up from $181,000 for retirees born between 1960 and 1970.
The bottom line is that Social Security is in good shape—we should all be so lucky at age 73. Changes to shore up the program’s financing and make it more progressive are warranted, but there is no crisis, and certainly no need to rush to dramatic reform.
In a curiously American drama, “liberal” commitment to tried and true policy has beaten back the “conservative” drive for radical change. We can only hope that this liberal caution will mark the next president’s policy not only toward Social Security but toward taxation, spending, and military adventures as well. ...
Social Security is something of a bureaucratic miracle; it is good government, getting the job done. At a cost vastly lower than the cost of running a private insurance company or bank, the Social Security system tracks 197 million accounts, delivers checks on time every month to more than 49 million beneficiaries. Like a rock in the wild sea of economic change and uncertainty, Social Security stands prepared to anchor the lives of the old, the disabled, and families whose breadwinner has died.
So the good news is that the Fed's probably right when it says that we're not headed for a replay of the stagflation of the 1970s, replete with its so-called wage-price spiral. Unfortunately, that means Americans are going to be feeling poorer - with no end in sight.
On Thursday, the government said consumer prices soared 5.6% from a year ago in July, the biggest year-over-year rise in 17 years. Much of that increase was driven by the soaring costs of food and energy, though Bank of America economist Lynn Reaser notes that prices were sharply higher across the board. "This number was a shocker," Reaser says, adding that practically "the only benign increase was in health care," where prices - after years of strong growth - were a modest 3.5% above year-ago levels.
"People don't realize how much you need to save for retirement," he said. "And medical care has become a huge factor. More employers aren't providing medical care for retired workers, and some are even taking it away from (retirees)."
Among the examples: Questcor Pharmaceuticals last August raised the wholesale price on Acthar, which treats spasms in babies, from about $1,650 a vial to more than $23,000. Ovation raised the cost of Cosmegen, which treats a type of tumor, from $16.79 to $593.75 in January 2006. The average wholesale price of 26 brand-name drugs jumped 100% or more in a single cost adjustment last year, up from 15 in 2004, the university study found. In the first half of this year, 17 drugs made the list.
Can Democrats deliver on that commitment? In principle, it should be easy. In practice, supporters of health care reform, myself included, will be hanging on by their fingernails until legislation is actually passed. What’s easy about guaranteed health care for all? For one thing, we know that it’s economically feasible: every wealthy country except the United States already has some form of guaranteed health care. The hazards Americans treat as facts of life — the risk of losing your insurance, the risk that you won’t be able to afford necessary care, the chance that you’ll be financially ruined by medical costs — would be considered unthinkable in any other advanced nation.
The politics of guaranteed care are also easy, at least in one sense: if the Democrats do manage to establish a system of universal coverage, the nation will love it. I know that’s not what everyone says; some pundits claim that the United States has a uniquely individualistic culture, and that Americans won’t accept any system that makes health care a collective responsibility. Those who say this, however, seem to forget that we already have a program — you may have heard of it — called Medicare. It’s a program that collects money from every worker’s paycheck and uses it to pay the medical bills of everyone 65 and older. And it’s immensely popular.
But Ms. Brady, 38, also finds much to admire in Mr. Huggins, who is three years older. He strikes her as trustworthy and caring. He has a stable job as a plumber and a two-bedroom house. And perhaps above all, said Ms. Brady, who received a kidney transplant last year, “He’s got great insurance.”
More than romance, the couple readily acknowledge, it is Mr. Huggins’s Blue Cross/Blue Shield HMO policy that is driving their rush to the altar. In a country where insurance is out of reach for many, it is not uncommon for couples to marry, or even to divorce, at least partly so one spouse can obtain or maintain health coverage.
My question to the forum is, how long should I expect this period of"stimulation" to last? Can I expect to be degraded and humiliated for a couple of weeks or will this go on for months or longer? In other words, how long do they attempt to stimulate you to leave on your own before they relent and tell you to go with a severance package. Emotionally I'd prefer to take the bastards to court as a court judgment in my favor would be much more satisfying but practically speaking I'll take a severance package and move on, never to look back. Thanks in advance for any advice and/or wisdom from those that have "gone" before me. -married_to_ibm_but_a_divorce_is_pending-
Exceptions: Thanks Awards, Invention/Disclosure Awards, Mobility expenses within GBS mobility guidelines spending levels, Travel as part of a revenue generating commercial contract.
Frozen/Restricted: ALL Education Certification and industry institution fees. All travel that is not commercial customer paid. All POs, Bond and Amex purchases - including SW, books, periodicals, travel, education, industry memberships (i.e. PMI, etc.), gifts, luncheons, WS/PC peripherals & parts, any BOND purchases charged to AS departments, and Supplies -Anonymous-
Vault's IBM Business Consulting Services message board is a popular hangout for IBM BCS employees, including many employees acquired from PwC. A sample post follows:
This site is designed to allow IBM Employees to communicate and share methods of protecting their rights through the establishment of an IBM Employees Labor Union. Section 8(a)(1) of the National Labor Relations Act states it is a violation for Employers to spy on union gatherings, or pretend to spy. For the purpose of the National Labor Relations Act, notice is given that this site and all of its content, messages, communications, or other content is considered to be a union gathering.