IBM Lays off 500 Workers at Vermont Plant

[NNN0LHI]

http://ap.tbo.com/ap/breaking/MGAV643JIJD.html

ESSEX JUNCTION, Vt. (AP) - IBM, the world's largest provider of computer hardware, laid off 500 workers at its Vermont plant on Monday, the company said.

Another 3,000 workers will be required to take a week off without pay next month, the company said. Spokesman Jeffrey Couture said the layoffs would take effect immediately.

Many of those laid off were in higher-paying positions, the company said. The move does not affect the manufacturing work force at the factory spanning the Winooski River in Essex Junction and Williston. Workers at the facility research, design and produce microprocessors and high-speed chips.

more

[MaineDem]

1. Holy crap!

This is really major - especially in a state like Vermont. This will severely hurt the local economy big time.

I wonder who IBM supports in '04? :tinfoilhat:

[ugarte]

2. The tax cut is working out nicely

With no jobs, these people's taxes will go way down.

[ElsewheresDaughter]

3. ya gotta wonder if they are hitting Dean for being too popular with voters

ajusting my :tinfoilhat:

[DS1]

4. doubtful

I know someone that's "upper management" that works at that plant, I wonder if she got the axe. That's pretty much the only place besides Burlington for tech people in the area, the rest is mostly logging or farming.

The hiring practices at that plant are entirely based on IBM's stock price, it's completely asinine.

[revcarol]

5. This is probably a revenge move on Bernie Sanders,

who fought to keep IBM's system of defined pensions for workers, instead of making them switch to the ugly "cash balance plan!!"

He held public hearings, town hall meetings, and sponsored legislation for workers to be able to keep DEFINED PENSIONS!!(THE THIRD LEG IN OUR SUPPOSED RETIREMENT STOOL...)

[whathappened]

6. ya jr.

give them tax breaks to the rich so they can lay off some more people and hire a crew of people to get right to the spots where they are spending to much money on labor , lol , these clowns who are getting there big tax cuts have no intention of making america a better place to work and make a living for there family

[WhoCountsTheVotes]

7. What are the Democrats doing about layoffs and outsourcing?

anyone? anyone? Bueller?

[VermontDem2004]

10. Getting Bush out of office

[eyesroll]

8. Essex Junction is tiny, too...

...about 18,000, IIRC. My husband and I stayed at the Inn at Essex for part of our honeymoon (tooling around New England). Beautiful part of the country, too.

I take it these are the workers that * said are being replaced by those from India because of lack of skills, right?

Edited because DU needs DU HTML.
Edited again because subjects apparently don't like any HTML.

[Atlant]

9. Actually, Fishkill, NY

> I take it these are the workers that * said are being replaced by
> those from India because of lack of skills, right?

While some of these jobs may be going to India, it's also
likely that a bunch of the jobs have gone to Fishkill, NY.

IBM manufactures microelectronics ("chips") at both sites
and Fishkill recently won out over Essex Junction to be the
site of the IBMs latest, greatest "FAB" (Fabrication Plant).

(If anyone's interested, I believe this is at the 65nm node
on the ITRS roadmap, but I may be wrong about that; it might
have been the 90 nm capability that's now online in Fishkill.)

Atlant

[kutastha]

15. Not 18,000...

There's more like 8,000 in Essex Jct.

I've tended to many who have lost jobs over there in past year. It keeps getting worse and worse.

But as * said, US tech employees are underqualified. Punk ass bitch.

[yellowcanine]

11. Not to worry - the economy is.....

recovering. Bush said it so it must be true. Remember he told us that Saddam tried to buy uranium in Africa and sure enough, oh, wait a minute....Never Mind.

[UpInArms]

12. In November 2002

Gerstner (CEO of IBM) was giving the Carlyle blessing

http://news.com.com/2117-1001-966802.html

BM's Gerstner named chair of Carlyle Group

By Dawn Kawamoto
Staff Writer, CNET News.com
November 21, 2002, 4:07 PM PT


IBM Chairman Lou Gerstner has been named chair of private equity company The Carlyle Group, a role he'll assume shortly after leaving his Big Blue post at year's end.

Gerstner will join Carlyle on Jan. 7, the company announced Thursday, offering strategic advice, lending perspective to the management of Carlyle's portfolio companies and reviewing Carlyle's global investments. Gerstner will also serve on the company's various committees.

"Carlyle is a world-class firm with an outstanding record of achievement--a record built on a strong, global business base and a team of creative, focused professionals," Gerstner said in a statement.

"This is an exciting time to be in private equity, and I look forward to sharing my perspective and experiences with Carlyle and, most importantly, helping to grow its already successful business."

...more...

[samsingh]

13. awful

and troubling in many ways. The recovery seems to be far away.

[Parche]

14. compassionate conservatism at its best with tax breaks

Another 500 jobs lost to overseas low wages.
When will the people over here realize that the corporations
only care about themselves and the profit, not the employees
we need to change the way America works now
No more tax credits to corporations who farm and send jobs overseas