Yes children, NCR did once have a true Pension Plan. It was frozen in 2004. So, anyone hired before 1994 (10 year fully vested) has money in that plan. Who will continue to contribute as needed to keep solvent, NCR Retail or NCR Financial? I am not using the new stupid names, just won't. Also, what about Health Insurance, etc. New plans or what.
Still too many unanswered questions. Dip-Sticks in charge are worthless.
If there are pension changes thank the board.
ELT will have no voting power.
@uwu+1nQqGyVL to your post. Many of the older managers were not qualified for the jobs they held. Ran across quite a few didn't even have a college degree or management credentials and that discrepancy lead right up to the director level. There's at least 1 I'm aware of that's still employed today. If you were in the right place, kissed the right brown eyes and used the current NCR catch phrases you were golden. Those same managers will be SOL if they find themselves suddenly unemployed today. To save their jobs there's a lot of them trying every day to prove their worth in upper managements eyes. Technically they should be the first out the door after the split.
They said NCR ATM will be taking on the pension
I don't care who assumes them. All I know is that by law they better keep sending my check every month until I croak and when I'm gone my wife will get a check every month till she croaks.
As long as we agree the “shackles” of the old NCR were the p_ss poor mangers from both inside and outside at all levels. Just because you have the years “on the job” does not make you a good manager. In 44 years I had several good managers and more than a few dip-sticks. Problem was the bad higher up dweebs liked the lower level dweebs / butt kissers. So the good managers got discouraged and left.
Just proves the old saving “s__t floats”
They keep saying no changes to pension plans at all, they will be funded as required by law.
Health insurance, 401k match, other benefits “supposedly” will not change in the short term-whatever that means.
I fully expect the rug to be yanked out from beneath employees. Though legacy NCR was no longer competitive with competitors in terms of pay/benefits….going for worse benefits post split would be an even d-mber move. If anything they should increase wages and improve benefits to attract quality workers once removed from the “shackles” of the old NCR.