This is a hugely raw deal for workers. But that is status quo for corporate America.
That said dollar cost averaging is overrated anyway and as far as this is concerned it is still in play--just over a yearly period instead of a semi monthly one.
Its not your money if its not under your control. The baby boomers are now learning that the hard way. Of course everyones retirement will get screwed. It only worked while the baby boomers were in their working prime ages. Now that they are retiring top heavy demographics like that and retirement is a huge fail.
They got screwed over a long, long time ago and are just now figuring it out.
My favorite example is Cali's $58b pension liability and $3b set side for it. So they're going to have to extract a helluva lot of money from education, law enforcement etc. It'll choke off the economy.
They are? I've never heard that, and they're on several different "top employer" or "ideal employer" lists.....
For example: http://www.universumglobal.com/IDEAL-Employer-Rankings/The-National-Editions/American-Student-Survey
If they're so horrible, what prevents the workers from going to some other place that's not as horrible?
Because the one thing they're good at is catering to working mothers (there's some magazine called 'working mothers magazine' or something and they're ranked #1 almost every year). Many jobs are work at home telecommute type jobs with flextime. So if that's important to you, you'll give a lot of concessions in terms of benefits/pay because most companies don't give that out. If you work in an office for IBM like i did, you didn't get that benefit and i don't know a single person working there still (or left) that still thinks IBM is a good place to work for.
IBM is notorious for fucking over their workers over pay/benefits, finding every way to outsource, finding every dirty trick to hire H1-B's over Americans, etc.
The results of the American Student Survey reveal how students perceive organizations as employers in the United States.
...
The rankings below reveal how attractive an employer is among students and indicates a companys position in relation to other ideal employers in the recruitment market.
I'm just waiting for them to do a mass layoff on Dec 28th now. After all, it's best to fire workers on a Friday.
Seems like a sleazy, cheap, tacky thing to do.
Fern
So you're saying IBM is a corporation.
Also why do corporate cocksuckers (aka republicans) exist when these things happen all the time?
That would be pretty funny because if you're there on Dec 15 you get the 401k match.
Also, the policy won't begin until the start of 2013.
Fern
So IBM and all corporations are there to make sure everyone lives a happy retirement? Are you really that naive?
There are state and federal regulation regarding 401k contributions. IBM is either compliant or not with this new policy. They have the obligation to meet the regulations, nothing more, nothing less. Not sure what is there to argue about.
Wrong too...
IBM has to comply with the WARN Act... and provides 60 days notification on layoff... So they would have to announce my demise by early October of that year.
These aren't even people who work at these companies!
Those are prospective new employees. I just used that as one example. You said IBM is "notorious" for treating their employees badly. I'd never heard that before. I don't know if it's true, just saying I've never heard that, I've often seen IBM rated as one of the better employers out there.
Ha, IBM gets around the WARN act all the time; they are pros at it.
"Even more alarming is that IBM is structuring these layoffs so that they aren't obligated to report them per the Worker Adjustment and Retraining Notification Act (WARN) of 1988"
http://articles.businessinsider.com/2012-03-19/news/31209499_1_alliance-ibm-workforce-numbers-jobs