Re: Today (Feb 26) IBM announcements

In article <62mictF24egjcU1@xxxxxxxxxxxxxxxxxx>,
Pete Dashwood <dashwood@xxxxxxxxxxxxxxxxxxxxxxxxx> wrote:

[snip]

What was of particular interest to me (and not referenced in Bill's post) is
the recent salary and overtime shake up at IBM.

http://www.pressconnects.com/apps/pbcs.dll/article?AID=/20080124/BUSINESS/801240335

There are some VERY disgruntled employees who are being told to take a 15%
drop in salary at a time when the company is still making a profit. How many
will vote with their feet, and what effect this will have (if any) remains
to be seen.

Hmmmm... aaaaallllll the way at the bottom I found:

--begin quoted text:

The federal court case, Rosenburg, et. al, vs. IBM, was brought against
IBM by employees who said they should be paid overtime; IBM argued to the
contrary. But in November, 2006, IBM and the plaintiffs settled before
trial and IBM earmarked $65 million in back pay.

--end quoted text

.... so it seems that IBM was using the old 'you work an hour, we pay you
an hour... EXCEPT after a certain point because you're salaried and not
hourly-paid employees.'

DD

.

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