The early days with IBM was a good company to work for. But they had punitive rules against conflict-of-interest. I wanted to buy $1,000 of Microsoft shares shortly after they floated in 1986, which would be worth around $1.6 million today. But IBM would not let me, as clearly spelled out in the employee booklet About Your Company. Being loyal and trusting of IBM, I did not buy the shares.
In 1997, IBM sold hundreds of employees in Wangaratta off to a start-up funded by private equity. The then Chairman of IBM Australia, Robert Savage, told all the Wangaratta employees at a town hall meeting verbatim, "You either join the new company or be deemed to have resigned in which case there will be no redundancy". Having no other suitable high tech employment in the town, almost everyone signed up "by our own free will", including me. In the transition, IBM surprised me with an offer of a 30% discount of a new PC - and revoked $40,000 of my retirement savings in a company held retirement scheme. IBM was highly manipulative and certainly greedy, in my opinion. I should have sent them a bill for the many thousands of unpaid extra hours I worked over the years. The startup failed within a few years. Since then, Robert Savage dropped dead and the CEO of IBM worldwide at the time Louis Gerstner (net worth US$ 630 million) had a son who died choking on a steak sandwich. I am alive, healthy and can sleep at night. In retrospect, I wish I have bought those shares in Microsoft, because in the end I realised I was just a disposable resource to IBM.
I vowed never to work for a large multinational company again.