EDS offers early retirement to 9,200 workers
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PLANO, Texas - Electronic Data Systems Corp. said Tuesday it would offer early retirement incentives to 9,200 US workers, or 17.4 percent of its domestic work force, and expects to take a $150 million charge in the fourth quarter to cover the costs.
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Medical device maker Medtronic Inc. , feeling the pinch of a slowdown in one of its key markets, will eliminate about 900 jobs through early retirement packages, voluntary and involuntary separations, the company said in a filing.
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Electronic Data Systems' early-retirement plan aims to save hundreds of millions of dollars, but saying goodbye to veteran employees could be hard on the firm.
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Nearly nine out of 10 Americans were  worried about saving enough for retirement even before  President Bush began his recent campaign to change Social  Security, according to a newly released study.
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International Business Machines Corp. has shut its cash-balance pension plan to new employees, CBSMarketwatch.com reports. Instead, new employees can contribute 6 percent of their
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MIAMI - Electronic Data Systems Corp. (EDS) offered voluntary early retirement options to about 9,200, or 17 percent, of its U.S. employees, as part of its ongoing efforts to reduce costs, the company said Tuesday.
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Darrell Dandridge, a 43-year-old Hilton Hotel security officer, is socking away 5% of his income in his company 401(k) plan, 10% in a savings account, and another 5% in a brokerage account. He's saving so much because he doesn't think Social Security will be around when he retires.
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A new regulation allows employers to establish two classes of retirees, with more comprehensive benefits for those under 65 and more limited ones, or none at all, for those older.
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US IT services giant EDS Corp., which employs about 1,400 staff in Ottawa, may cut up to 20,000 jobs over the next few years as it attempts to reduce costs by US$3 billion.
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Electronic Data Systems  on Tuesday  made a voluntary early retirement offer to about 9,200 U.S.  employees as part of its plan to reduce up to 20,000 jobs over  the next two years to cut its costs.
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The US Department of Labor announced Wednesday that it had reached a $1.9 million settlement with a contractor for Target Corp. after finding that the contractor had not paid overtime
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The ranks of Americans lining up to file initial claims for jobless benefits thinned by 9,000 last week, the government said on Thursday in a surprisingly strong report that signaled healthy job growth.
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A law making it easier for employers to automatically enroll their employees in 401(k) and other retirement plans goes into effect tomorrow.
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DETROIT -- Ford Motor Co. said Wednesday that about 38,000 of its hourly production workers have accepted buyouts or early retirement offers so far this year.
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A $199,905 grant from the U.S. Dept. of Housing and Urban Development will serve economically and educationally disadvantaged adults who lack the technology skills needed to be successful in the workplace.
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By Anne Krishnan, The News & Observer, Raleigh, N.C.  Mar. 8--IBM wants workers to be prepared when it freezes its pension fund next year and switches workers into investments they will have to manage themselves.
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Nine out of ten employees prefer to work outdoors--and they're getting creative about it.