tarheelhockey
Offside Review Specialist
It's not just IBM. Companies big and small are doing the same thing.
Exactly. IBM was a standard-setter that other companies had to compete with. When they walked benefits back, nobody else jumped up to establish new IBM-like benefits. Everyone just continued to peg their offerings to IBM, meaning smaller companies could get away with offering even less. The system that used to be the backbone of the white collar middle class in a town like Raleigh is now simply gone. Meaning people move in with their parents, rent rather than buying, wait a few more years for retirement.
It’s bad for everyone except the shareholders who get fluffed a little more each quarter.