IBM is cutting pay for workers at chip manufacturing plants in New York and Vermont. This comes on the heels of job cuts at the Vermont facility.
Some shift workers at IBM's semiconductor plant in Essex Junction, Vt., will see net pay reductions of up to 10 percent in early 2009, said Jeff Couture, an IBM spokesperson.
In effect, a 20 percent premium for shift workers is being eliminated, according to Couture. To mitigate employee earnings losses, IBM is making a one-time base pay increase, he added. However, even with this increase, the "net for employees will range … Read more