It is understandable that corporations have the motivation to survive, just like any other human. However, like their human counterparts, they should consider the ‘other guy’ as well as themselves.
As a continuation of my recent article ‘Living and Working in the U.S.A.‘, I received an update from the friend who sent the email included in that article. Just when you think you are totally shocked at how a corporation could be so calloused and impersonal, you see even worse behavior.
His update (paraphrased for security reasons) goes something like this:
After working a little more than 15 hours per week all year, they were told that their salary (hourly wage) would be cut by 30%, effective immediately, until January.
In their notification, they were told that this action was of a ‘confidential nature’ and that they could not share it with anyone inside or outside of IBM. In short, if the tree falls in the forest and no one is told, I guess the tree really didn’t fall..?
I guess the main reason I enter this article is to inform the public that corporate America is really in trouble. If one of the top bluechip corporations in this country behaves in this manner, one should ask who else takes such actions. And, how much of a recovery do we really have?
And for those of you who invest in IBM, you should find the following article by Forbes to be of import.