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January 21, 2011

IBM gives $1,000 bonuses for good 2010

 Spotted a couple articles today on InformationWeek and Bloomberg today about IBM giving non-execs $1,000 stock bonuses last year's performance.

A memo from the Big Blue Boss Sam Palmisano is reported as stating all non-executive employees who performed consistently during the execution 130110ibmwalljan10jkof the company’s 2010 strategic plan will get the bonus.

I wonder how many of the IBMers in Rochester will get this bonus?

IBM, which doesn't release any specific employee numbers any more, is not saying how many of its about 400,000 staffers will get this.

The shares will vest in 2015.

Comments

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Would be nice since I know people haven't gotten raises for 3 years. IBM was thinking of not giving raises again this year, but since turnover has been so high they might not be able to get away with. Sad to see a great company from the past slide so far in the mind's of many of their employees.

I don't know where everyone gets their misinformation... I have gotten raises, albeit small ones, each of the last 10 years at IBM. Not everyone gets a raise every year anymore, and the raises aren't huge, but they exist. And this is all during a time when some of IBM's biggest industry competitors have even cut employee pay. I'm not going as far as saying everything is great, but it's not as bad as you'd read in the paper or hear on the local news...

I think my buddies at IBM could stomach no or small raise better if the executives also were "suffering". It appears he CEO's salary was $1.8 million in 2009 but he got almost $20 million in bonuses.

Sam Palmisano, chairman and CEO of IBM, was awarded a compensation package valued at $21.2 million in 2009, according to documents filed today with the U.S. Securities and Exchange Commission.

His total compensation rose slightly compared to 2008, when his pay package was valued at $21 million.

Palmisano’s 2009 salary was $1.8 million, which is unchanged from 2008. He earned a $4.75 million performance-based cash bonus, down 14% from $5.5 million in 2008.

The bulk of his pay package came in the form of performance-based stock awards, which were valued at $13.5 million at the time they were granted (up 11% from $12.2 million in 2008).

Palmisano also received $1.1 million in perks and other compensation. His perks included personal travel on company aircraft of $320,065; use of company autos; financial planning; personal security; and other personal expenses.

I was hoping to see Bill's comments. I love your insight!Sounds like the "bonus" will be something like a stock option and only redeemable if you are still there in 2015. Not much of a bonus.

At least the IBMers have their pension to fall back on!, oh wait . . .

IBM is all about who can suck up the most to their managers. It's the manager suck-ups that survive each year regardless of how they perform on the job. There are a lot of very solid performers who are let go because their manager does not give them a good rating.

I would not recommend anyone working there, oh wait, you would have to move to Argentina or China if you would want to work at IBM these days.

Good point, Lando. The top executives all have their own specially negotiated termination packages. A lot of old IBMers are still really bitter about back when they canned the pension plan.

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