Andre Yoskowitz
5 Sep 2015 12:49
A judge has approved a $415 million settlement ending a lawsuit that had accused Apple, Intel, Adobe and Google of conspiring to keep salaries down and job mobility low.
Workers sued the tech giants in 2011, accusing the companies of colluding to not recruit one another's employees between the years of 2005 and 2009, keeping salaries lower than they would have been had the companies been actively looking to hire the skilled workers.
Judge Koh deemed the settlement to be appropriate and attorneys will get $40 million for their time on the case while thousands of workers will get a cut of the large settlement.
Emails from Apple co-founder Steve Jobs, Google executive chairman Eric Schmidt and other high-level execs doomed the tech companies as it revealed plans for the companies to avoid 'cold calling' highly skilled engineers from the other companies, thus limiting their job mobility and salary opportunities.
Source:
BI