IBM Corp. is planning to remove roughly 110,000 retires from its company-sponsored health insurance and provide them with a payment to enroll in a health-insurance exchange. The Wall Street Journal reported that the move by IBM (NYSE: IBM) is a sign that even massive, well-funded companies are unlikely to keep providing once-common benefits in the face of rising medical costs. IBM has a large presence in Austin, employing more than 6,000 people locally. The move will affect IBM retirees once they…
Reported by bizjournals 16 minutes ago.
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