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BRIEF-Australia's Fair Work Ombudsman Says IBM Back-Paid Australian Employees More Than $12 Mln

Published 11/09/2020, 10:15 am
Updated 11/09/2020, 10:18 am
© Reuters.
IBM
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Sept 11 (Reuters) - Australia's Fair Work Ombudsman:

* IBM (NYSE:IBM) BACK-PAID AUSTRALIAN EMPLOYEES MORE THAN $12 MILLION AFTER ENTERING ENFORCEABLE UNDERTAKING WITH FAIR WORK OMBUDSMAN

* FURTHER UNDERPAYMENTS, EXPECTED TO BE SIGNIFICANT IN SIZE, ARE YET TO BE QUANTIFIED

* THE EU REQUIRES IBM TO CALCULATE AND PAY OUTSTANDING AMOUNTS TO EVERY AFFECTED EMPLOYEE BY OCT 16 THIS YEAR

* EU COMMITS IBM TO MAKE TWO CONTRITION PAYMENTS TO THE COMMONWEALTH'S CONSOLIDATED REVENUE FUND BY 27 NOV

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