IBM funds day care – Criticized for pension change

IBM has established a $50 million fund to help its employees with child and elder care, the New York Times reported July 13.

Some of the money will be used to fund day care centers on or near company sites in Toronto, Mexico City, Dublin and Yorktown Heights, N.Y.

Last year the company faced criticism for changing to a new pension plan by those who said the new plan harmed older employees and hurt company morale. Since then, IBM has been looking for ways to attract and keep workers. The company set up the fund after a survey found that employees said the lack of good local care made it harder to focus on their jobs.

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