Pension != Big Blue
Let me start with saying that this a betrayal towards its employees - employees who might have accepted other jobs for higher wages but... IBM had the better pension plan. Somehow this seems deceitful to me.
However, in BB's defense: "Earlier in his email, Riley blames the change on a "recent trends in the economic environment." But Big Blue is one of the few tech giants still churning out profits on par with with pre-Meltdown financials" - their pension plan has more to do with the stock market than with their profits, one might hope, it called "not putting all your eggs in one basket"
But that doesn't change the fact that it is treason towards their employees. Don't offer it to new-hires, but don't rob people from a pension who missed out on (possible) higher wage opportunities because of -basically- promised loyalty awards.
Biting the hand that feeds IT
