Commercials IBM Cuts Pay of 3,500 Workers

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Posted: August 08, 2008

Description: IBM announced it¿s cutting the pay of 3,500 workers in its chip production... (more)

Description: IBM announced it¿s cutting the pay of 3,500 workers in its chip production facilities throughout New York and Vermont. Affected employees are expected to see a 10-percent decrease in the first quarter of 2009. Semiconductor manufacturing will be area hardest hit by the cuts. Production operators, technicians and managers throughout the division will be affected. This comes after the company eliminated 180 employees in Vermont. The company is looking to cut costs and bring IBM¿s salaries closer to its rival chip manufacturers. IBM says the salary adjustments will have no affect on their plans to invest $1.5 billion in its New York state operations (less)

Tags: 3 • 500 employess • 500 workers • employmentcrossing • employmentcrossing.com • ibm • ibm cuts pay of 3 • ibm salaries • new york and vermont plants • semiconductor manufacturing

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