Pay cuts in Roch. tech company?

OK, I know there was a mandatory meeting on the Rochester IBM campus last night. In that meeting, employees were told of a 10 percent pay cut.

TV did a good job on getting right on that. However, their report made it appear that IBM was doing the pay cuts, thought the report did specify it would impact contractors.

Since CTG just did a 10 percent pay cut at its Research Triangle Park site on IBM's campus there, I'm guessing CTG called the meeting.

But I don't know. CTG is not commenting this a.m.

Anyone know anything about this?

Comments

[Lando]

Jeff,

Don't believe for a minute that IBM isn't behind the pay cuts.

Due to IBMs cost cutting measures to contractors most have not had a raise in over 5 years and many have taken multiple pay cuts.

[Ryan]

Amen, Lando.

I remember back in 2002 or 2003, when there was an across the board cut for ALL contractors.

[amm]

Anytime vendors cut pay (CTG, Ciber, Keane) it has always been because IBM requests it. At least, having been through them in 2002 and 2003, that's what those vendor companies told us.

[IBM Contractor]

CDI made all of it's contractors take a 13.5% pay cut starting today. 10% of that pay cut is from IBM and the other 3.5% is from CDI. Apollo cut their employees only 10%. This 4 weeks before Christmas and I'm sure the company will be in the black for the year but the contractors have to suffer.

[NW Roch]

Hey it could be worse - Mayo is just ending most contractors' contracts in IT at the end of 2008. I know a pay cut hurts, but unemployment hurts more.