IBM in Settlement Talks in Pension Case
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The judge presiding over a massive pension suit against IBM, which could cost the company more than &#36;6.5 billion, agreed Friday to a short delay while settlement talks continue.
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IBM will take a $320m (Â£178m) 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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IBM  will offer future employees a 401(k) pension plan instead of a fixed pension, the company said on Thursday, backing away from a controversial policy that reduced retirement payouts and stirred employee ire.
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US computer giant IBM blames a $320m pension lawsuit settlement as it reports flat third quarter profits.
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SAN FRANCISCO: IBM is reportedly in talks to sell its personal computer business in a deal that could be worth up to $2 billion and would cap a gradual withdrawal from the business it helped to pioneer in 1981.
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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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I.B.M. said that it had agreed to pay $320 million to its employees to settle in part a class-action lawsuit over its pension plan.
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International Business Machines Corp. said Wednesday it had agreed to settle most of the issues in a suit over changes in its pension plans on terms that allow the company to continue to appeal a key question while capping its liability at $1.7 billion. -The Washington Post
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NEW YORKâIBM said yesterday it is in talks to settle a mammoth lawsuit alleging a pension plan adopted by the firm in the 1990s discriminated against 140,000 older workers.
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IBM will take a $320 million charge this quarter to settle some claims and cap its liability on others in a long-running class-action fight over changes made to its pension plan in the 1990s.
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Technology industry bellwether IBM has reported a healthy rise in net income in the third quarter, but its overall results were hampered by a $320m legal settlement related to its employee pension plan.
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International Business Machines Corp. has settled portions of an ongoing lawsuit related to pensions, and will take a charge of $320 million in the current quarter, the technology company said on Wednesday.
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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, which pioneered the personal computer business in the 1980s, is said to be negotiating the sale of its PC unit in a move that could reshape the industry.
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International Business Machines Corp. said yesterday it will pay at least $300 million to settle part of a lawsuit that claimed the firm's pension plan discriminated against older workers.
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US computer giant IBM agrees a $320m deal with older staff, who had argued that changes to its pension scheme left them worse off.
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IBM, in the latest turn in a pension plan case that could reverberate through the Fortune 500, said on Friday it is in talks to resolve some of the issues in a lawsuit that could cost Big Blue billions of dollars.