In 2001, the IBM Essex Junction, VT. plant was the place of employment to over 8,000 people. In the past seven years IBM has laid off 40% of their workforce averaging around 3,200 employees. Recently, management has received large pay cuts. On Wednesday the 21st, IBM announced they made a $12.3 profit in the last year, but they still continue laying off and pay cuts. One employee that has work with IBM for over 30 years, said they have recently started taking $400 out of every pay check and is making the same thing he was making 10 year ago. Most workers are the ones taking the pay cuts and not management which is averaging between 8 to 10% less than what they were making. Sometimes layoffs are necessary to help companies re-build for the better, but instead of laying off just the plant workers they should consider laying off management also.
source:http://socialistworker.org/2009/01/28/ibm-layoffs-and-pay-cuts
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