Company: IBM
Date: 2010-06-25
Overall rating: 2/5
Employment status: current

No career/pay prospects but you do get flexible working.
Pros: Can often work from home - can almost always work from home when you need (deliveries / children / pets or to get some quiet). - More than one day a week might require negotioation.

Flexible hours - core hours of 10-4 but these are rarely enforced.

Flexible contracts - Compressed hours - work 4 but do an hour extra each day and get 90% pay.
                                - Term time only (all school holidays off) for 90% pay
Nice site.
Nice, intelligent (if demotivated) coworkers.
Cons: IBM wants to reduce it's workforce and so has a deliberate policy to reduce moral and encourage people to quit:
Very restricted payrises.
PBC 3 process - management are forced to label a fixed percentage of employees in every team as underperforming and threaten them with the sack.
No education budget. (IBM used to be good here).
You are a very small cog. 
Execs may work you into the ground on a project they've already decided to scrap months ago.

Each year a few new graduate starters are abandoned in a team that has no work for them and are ignored, until they either quit or find another team - pretty demoralising realising that IBM really cares so little about it's employees that it will leave them to rot. This also occasionally  happens to whole teams of more experienced staff but they are better able to cope.