A few weeks ago, we heard that an iPhone bug in Australia associated with Daylight Savings Time had some dire consequences–it woke people up one hour earlier than they'd have liked.
SInce then, the bug has hit New Zealand as well. Most recently, Europe was the victim, but the only difference was that iPhone owners there slept one hour later than they'd meant to. That may not be a bad thing, because it's nice to sleep in, and we imagine that so many co-workers would have iPhones that everyone would have the same excuse that morning and the boss would have to let it slide.
North American iPhone owners are likely to experience the problem soon as well. In fact there are reports circulating the internet that some users are having their alarms go off one hour early, and that the issue seems to be related to those who set their alarms to go off only during the week, or only during the weekend are having the issues. Unfortunately, that's probably how most people use their alarms.
Apple has said that the problem will be fixed, but that could have unintended consequences for jailbreakers as well.