Feeds

MPs slam IBM pension moves

Changes are redundancy by stealth

Providing a secure and efficient Helpdesk

A Westminster Hall debate has led to serious criticism of the way IBM ended its final salary pension scheme.

Sandra Gidley, Lib Dem MP for Romsey, said she had heard from many IBMers, especially those in their 50s who were hit hardest. She explained that in 2003 IBM staff were asked to increase pension contributions by 50 per cent even though the company, along with many others, had taken a pensions holiday for several years.

In 2006 more changes were made which were grudgingly accepted with the promise that funding would be in place until 2014. But in 2009 IBM made more changes.

Gidley criticised IBM's decision to run the feedback period during summer holidays when many staff were away. She said: "People will think twice about whether they want to work for a company that treats its employees so shoddily."

Christopher Huhne, MP for Eastleigh, noted that IBM made record profits in 2008 and there was no underlying reason for it to treat its staff in such a way.

Westminster Hall debates are held around a horseshoe-shaped table and aim to create a more intelligent standard of argument than the usual House bunfight.

There's a transcript here or BBC video here. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple's iPhone 6 first-day sales are MEANINGLESS, mutters analyst
Big weekend queues only represent fruity firm's supply
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Bill Gates, drugs and the internet: Top 10 Larry Ellison quotes
'I certainly never expected to become rich ... this is surreal'
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
EMC, HP blockbuster 'merger' shocker comes a cropper
Stand down, FTC... you can put your feet up for a bit
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.