Feeds

MPs slam IBM pension moves

Changes are redundancy by stealth

Secure remote control for conventional and virtual desktops

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. ®

Intelligent flash storage arrays

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Big Content outs piracy hotbeds: São Paulo, Beijing ... TORONTO?
MPAA calls Canadians a bunch of bootlegging movie thieves
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
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.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
New hybrid storage solutions
Tackling data challenges through emerging hybrid storage solutions that enable optimum database performance whilst managing costs and increasingly large data stores.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.