In the race to the bottom….

Unite, the largest union in the UK, has today (Wednesday) accused global IT company IBM of using the cover of the recession to cut the pensions of its UK workforce. The company has announced that it is to close the final salary pension scheme for future accrual to existing members.

Unite believes that IBM can well afford to keep the existing scheme open but is seeking to cut costs in order to make more money available for dividends, to buy back IBM shares and for acquisitions.

It wold appear that this factory in China “dehumanizes” people.

The report by the National Labor Committee, a human-rights group based in Pittsburgh, covers the work environment in the Meitai Plastic and Electronics factory in Dongguan City, Guangdong, China. According to the report, released this month, workers sit on hard wooden stools for 12-hour shifts, seven days a week. Overtime is mandatory, with workers being given on average two days off per month.

It’s possible that the keyboard you’re typing on could be the product of sweatshop labor.

This is really pathetic.

Redefining the possibilities of the word “offshore,” IBM has invited its recently laid-off U.S. workers to find work with the storied company in developing countries like India – where salaries are a fraction of what Americans are used to.

While the invitation is likely more than most U.S. companies have offered the 2.6 million Americans laid off in 2008, the company’s standing offer is probably cold comfort to most newly minted ex-IBM employees.

An internal document circulating the company says that a program called “Project Match” will “help you locate potential job opportunities in growth markets where your skills are in demand,” according to InformationWeek.

I wonder how many other corporations will start doing this?