A friend who was laid off about a year ago just started his new job. Nearly the same pay as here but he'll be getting proper quarterly bonuses and his benefits beat ours by a mile. I've never in my life been so happy that somebody didn't take my advice (I was trying to convince him to take one of the jobs he was offered in the past year that came with a major pay cut for him.) I thought that was the best he could get at our age (early fifties) but I'm happy to have been wrong.
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IBM is technology welfare pay.