IBM to add $50 mn to global worklife fund

IBM is planning to pump in another $50 million to its existing global worklife fund, in order to provide better working conditions for its employees.

"The company is planning to put in another $50 million in the fund, which has been operational since 2000," said IBM India diversity leader, Anita Guha, at a conference on disability, organised by the Confederation of Indian Industry.

Though the company is yet to make a formal announcement, IBM India is hoping to get a big chunk of the proposed investment. "We are hoping that India will be able to utilise at least 15 per cent of the proposed investment," Guha added.

The global worklife fund, set up in 2000 by IBM Worldwide, already has a corpus of $50 million, which was to be spent over six years.

IBM India, which accounts for over 10 per cent of the company's global work force, has got barely one per cent of the fund's allocations so far.

The company, which is building a crèche in IBM India's headquarters at Bangalore, is also planning to build such day-care centres in its other operations in the country.

"While the first crèche will be set up this year, the increased allocations will help us build such facilities in other parts of the country," added Guha.