IBM hits back against over-timers with pay cut
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'These people' get what they deserve IBM's technical support grunts may have won the battle for overtime pay, but the company has cooked a major catch to its peace agreement.â¦
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Not admitting liability IBM is paying up to $65m in backdated overtime pay to 32,000 US-based techies,to settle a federal class action suit.â¦
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Shares take a beating after the chipmaker says fourth-quarter operating income will be "down significantly" from the preceding quarter.
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A San Francisco Bay-area school district that pressed IBM Corp. to rip up an old $5 million debt didn't get its wish, but the technology company has agreed to let the repayment be stretched out over eight years instead of four.
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IBM on Wednesday said it has settled portions of an ongoing lawsuit related to its pension plan and said the potential liability for the other claims that remain on appeal is capped at $1.
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Stung by its loss of market share to Hopkinton&#39;s EMC Corp., IBM Corp. fought back yesterday with a pair of major new data storage offerings, including
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IBM on Wednesday said it will take a third-quarter charge of $320 million to settle all but two claims of an ongoing lawsuit claiming its pension plan discriminated against older workers, in exchange for capping its potential
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IBM plans to continue hiring global services delivery staff in India by the thousands, adding to the 73,000 it already has in its global services and other operations in the country.A large number of Indian outsourcers and multinational services companies have set up services delivery operations from India. Their competition for the best staff is&#160;driving up salaries. Companies are however introducing quality systems that enable them to weed out low performers. IBM, for example, sacked about 200 staff earlier this month, after a staff appraisal. Indian outsourcer Tata Consultancy Services said a day later it had terminated 500 staff after a similar staff appraisal.Staff attrition in IBM&#39;s global services delivery operation in India is within 0.2 percent from the attrition rate at IBM&#39;s global services operations in the U.S., said Diane Gherson, vice president of human resources (HR) for IBM&#39;s Global Business Services.&quot;Our business model is based on that range of attrition, and we don&#39;t mind some attrition because it helps us get fresh talent, and offer growth to people in the organization,&quot; she said Wednesday.Although staff salaries are rising in India higher than in most other countries, IBM has been able to recover the increased cost from clients by offering staff with higher skills, Gherson said. Salary increases will however eventually become a problem for India if the amount staff are charging cannot be recovered from clients, she added.Even as some research firms have warned of&#160;reduced growth in IT budgets&#160;in the U.S. this year, IBM is not feeling the impact yet in its services business. &quot;They will talk themselves into a recession if they are not careful,&quot; Gherson said. Besides, over 65 per cent of IBM&#39;s revenue comes from outside the U.S., she added.Forrester, for example, forecast on Monday&#160;slowing growth this year for purchases of IT products and services&#160;in the U.S., based on the assumption that a mild recession will hit the U.S. economy in the second or third quarter.IBM&#39;s services delivery strategy has been to set up delivery operations in a large number of countries to tap talent in these countries, and also to deliver to the customer a variety of skills and services, including language skills, and services delivered in the same time zone as the customer, said Rajesh Nambiar, Head of IBM&#39;s global delivery business in India.India is IBM&#39;s second largest location outside the U.S. for global services delivery, and will likely hold this position at least for the next five years, Gherson said. India is also an important market for IBM, Nambiar said. The company earned revenue of about $1 billion from the Indian market last year.
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IBM Corp. misled investors by overestimating the impact of stock-based compensation expenses on quarterly earnings in 2005, the U.S. Securities and Exchange Commission has found.
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JP Morgan Chase &amp; Co. said Wednesday it was canceling a $5 billion outsourcing deal with IBM Corp. and planned to rehire about 4,000 workers who had been transferred to IBM under the pact.
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Software maker Compuware has charged IBM with keeping back key evidence in a long-running legal battle over copyright and anticompetitive practices.
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San Francisco, September 30: IBM on Wednesday said it will take a third-quarter charge of $320 million to settle all but two claims of an ongoing lawsuit claiming its pension plan discriminated against older workers, in exchange for capping its potential
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IBM Corp. said Wednesday it will take a US$320 million charge this quarter to settle some claims and cap its liability on others in a long-running class-action dispute about changes made in the 1990s to its pension plan.
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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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A school district in the San Francisco Bay area has put IBM Corp. in a tough spot by asking the company to forgive a $5 million debt that began when educators bought computers from Big Blue way back in 1989.
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Paychecks stay the same for the top two, but compensation changes for other Microsoft workers as stock grants replace options.
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IBM Corp. said Wednesday it will take a $320 million charge this quarter to settle some claims and cap its liability on others in a long-running class-action dispute about changes made in the 1990s to its pension plan.