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IBM Employees To Take Mandatory Furloughs

IBM will have many of its employees take mandatory furloughs, which will likely include workers at its Endicott site. IBM is requiring employees in the Systems and Technology Group, which has a presence in Endicott, to take a week off with one-third of their regular pay. IBM saw its stock prices drop 2.3 percent on Monday, which the company is concerned is a sign of things to come. Many IBM workers in the Systems and Technology Group, along with some in the Integrated Supply Chain, were informed of the furloughs on Monday. Most workers will get the one-third pay during their week off, but executives for the company won’t be paid at all. This follows major job cuts across the company in June, including a reduction of 3,300 jobs in the United States.

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