back to article UK IBMers lose crucial battle in pension row

The Court of Appeal in London, England, has upheld IBM's appeal over the closure of its defined benefit schemes, which guaranteed retired employees a predefined portion of their final salary. It dismissed The High Court's 2015 ruling by Mr Justice Warren that IBM had not acted in good faith when implementing a series of …

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    1. Charles 9 Silver badge

      Re: Pot in a hat.

      Then how do you deal with inflation which constantly devalues mattress money?

  1. Anonymous Coward
    Anonymous Coward

    How's that working out for you IBM?

    You know that whole "we'll do everything we can to increase our EPS and dividends to some magical number!" - except the one thing you aren't doing it improving your business value. Slash and burn, cloud atrophy...to the point Microsoft and AWS don't even see you as being in the race. What's left now? Not much,

  2. Chris Coles

    Over many years, anyone following the rulings delivered by the appeal court will have come to the conclusion that the next step for the employees is to take this to the House of Lords; Now called The Supreme Court. It is certainly true that many appeal court rulings have been reversed.

    Long ago I formed the personal opinion that the appeal court, for their own reasons, leaves matters open to be taken on to the Lords for a final ruling.

    1. Anonymous Coward
      Anonymous Coward

      Pensions

      Would be nice if we could afford to do that. However, IBM has deeper pockets and currently it would appear that the white flag has been raised.

  3. mako23

    The Empire Strikes Back

    The only thing missing from Ginni Rometty is a black mask and deep metallic breathing. She sure is a record breaker 21 consecutive quarters of revenue decline.

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