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article imageTech giants 'conspired to hold down salaries'

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By Tim Sandle     Apr 27, 2014 in Business
Apple, Google, Intel and Adobe have settled a class action case alleging they conspired to hold down salaries of over 65,000 employees.
The U.S. lawsuit had claimed $3 billion in damages on behalf of more than 64,000 workers at the four firms. The case alleged that the firms agreed not to poach staff from each other, which it claimed prevented workers from getting better job offers.
In order to avoid what could have totaled $9 billion under U.S. anti-trust laws, the four tech firms made an undisclosed settlement, though Reuters has reported that the four companies will pay a total of $324 million. Three other companies accused of participating in the conspiracy, Pixar, Lucasfilm, and Intuit, made settlement proposals last year, according to Information Week.
According to the BBC, Adobe said in a statement: "We firmly believe that our recruiting policies have in no way diminished competition for talent in the marketplaces.''
For the other side, Kelly M. Dermody, co-lead attorney for the workers told CNET: "This is an excellent resolution of the case that will benefit class members. We look forward to presenting it to the Court and making the terms available."
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