IBM, the corporation that jump-started the trend of companies dropping defined pensions for workers in favor of cheaper, tax-deferred retirement accounts, has a new scheme for retirees: retirement accounts that may not actually be secured. If IBM were to become insolvent, Hulme said, those accounts would be considered general liabilities that aren't secured by anything. So employees would simply become creditors with no guarantee they'd be able to recover their funds. Before, the funds were held and administrated by a third party that invested in a variety of companies, government bonds, and other instruments. But now your retirement is locked into the success or failure of just one company. What could possibly go wrong?
Month: November 2023
IBM, the corporation that jump-started the trend of companies dropping defined pensions for workers in favor of cheaper, tax-deferred retirement accounts, has a new scheme for retirees: retirement accounts that may not actually be secured. If IBM were to become insolvent, Hulme said, those accounts would be considered general liabilities that aren't secured by anything. So employees would simply become creditors with no guarantee they'd be able to recover their funds. Before, the funds were held and administrated by a third party that invested in a variety of companies, government bonds, and other instruments. But now your retirement is locked into the success or failure of just one company. What could possibly go wrong?
God forbid these millionaires and billionaires make a little less money…. It’s just pure greed. They’re hiring less people, I’m ringing myself up at stores and restaurantsants, because they already have less employees yet prices are still going up and so are profits. Now they have to pay a little more to the overworked employees they do have while I’m still expected to do the work of the employees they won’t hire AND they are raising prices?!? When’s enough enough?
1099 gig, company refuses to pay
I did some independent contract work (1099) for a Lone Star Overnight and they refuse to pay me. I'm filing paperwork with the Oklahoma department of labor but how do I go about getting the news involved? If it wasn't almost $300 they owe me I wouldn't make a fuss but that's a lot of money that they refuse to pay. On top of that, I witnessed some pretty sketchy things happen to some folks packages in the short time I was there. Anybody know anyone in the news I could possibly speak with?? Any advice would be appreciated!
Schedule Switcharoo
Yo, healthcare worker here. In my profession, a full time hospital job is 3 twelve hour shifts. I have been in contact with a prospective employer since June, saying they are shorthanded and really want me to work for them, but the job is in a different state so I needed that state's licensure. Well as the universe would have it, the job I was working at got eliminated and the prospective employer wanted to hire me ASAP. I had been talking it over my expectations with them since August for two months, told them what I was looking for, schedule and salary expected. The hiring manager agreed and said they could make it work. The company initially low balled my salary, but after one negotiation, they met my asking price. It was to be three days in a row, just like my previous job, so I can enjoy 4…
After three interviews and then a background check I got a verbal offer from a department with a December 1 start. I said that sounds good but I’d like that increased $5k match my salary at my current company. They said they didn’t think that’d be a problem and just had to get the salary approved. That was a week ago and I am still waiting on that official offer letter. Called the manager and he said he’d email HR again and get back to me. That was a Monday and no word yet. Are they going to rescind the offer or is their HR really that slow? While I'm waiting I hear back from another company I interviewed with. Those assholes want me to come to shitty location downtown for a second interview and then a writing test because they said the candidates are just too close/competitive. I'm about to…
young workers, don’t be like me
I am a 57yo man and when I look back at my working years, I am filled with anger and incredible regret. I guess I should feel blessed that I've had steady employment, a decent income, insurance and a marketable skill. That said, I can't help but mourn my youth and all those years that I gave up just to have a roof over my head and food on the table. Yes, I had a mediocre vacation every 8-9 years a few modest homes, and one new car that I can recall, but I deeply regret not seeing Europe, hiking the Appalachian Trail, traveling widely, and enjoying life. Doing these things when you're older (as opposed to young and vibrant), is no comparison. All of those years…working jobs that I didn't want to work and spending time with people (coworkers) that I never want to spend time with….There's a message…
Need honest career advice.
I'm really frustrated by recent news at our company. Despite consistent reports of record-breaking profits, they're claiming they can't afford raises. My last raise was just 3%, and some colleagues got as little as 1%. What's worse, the abrupt layoffs of thousands of employees over the summer caught me off guard. Plus, our benefit costs for 2024 are increasing, impacting my paycheck. So, not only am I facing potential layoffs and a lack of cost-of-living adjustment, but I'm also looking at a decrease in my overall compensation. It's really frustrating how the company justifies these actions. Is it unreasonable for me to prioritize my family's well-being by actively seeking better opportunities elsewhere?
I recently realized that I don’t know how to define myself or really exist outside of work. I’ve found that I define my self and my self worth by what I do. I’ve been working since I was 15, didn’t take off during college, or anything extended to have kids. I’ve even prioritized work over surgeries and I came back way too soon a few times. It was serving me well for a while (so I thought), worked myself up the tech ladder (software engineer that went the product management to transformation leadership route) and became the bread winner in the family. Well the inevitable happened and I’ve been laid off. Now I don’t know what to do or how to act. I’ve never taken a break and I honestly don’t know how to relax. I was given a good enough package that I could take a few months off…