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IBM Laying off 15000 people

Anonymous
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Joined: Nov 22, 2008
Posts: 18944
IBM Cutting More Than 15, 000 Jobs
By THE ASSOCIATED PRESS

Filed at 1:31 a.m. ET

NEW YORK (AP) -- Citing a slump in technology, IBM Corp. revealed that it's slashing more than 15,600 jobs, or 5 percent of its work force.
The technology giant never announced the layoff figures publicly, but disclosed them in a filing with the Securities and Exchange Commission on Tuesday.
Employees losing their jobs were notified in several batches during the second quarter, which ended June 30.
IBM reported cutting 14,213 jobs, the majority of which fell on its Global Services unit, with some workers also laid off in its servers and software businesses. Another batch of layoffs dismissed 1,400 workers from the company's Microelectronics division, which manufactures semiconductors.
``The work force reductions are intended to drive productivity and efficiency throughout the company,'' said IBM spokeswoman Carol Makovich.
IBM blamed the cuts on ``the recent decline in corporate spending on technology services.''
By Sept. 30, when most of the laid-off workers are expected to have departed, IBM's work force will have been cut from 320,000 to around 305,000, Makovich said.
But the Armonk, N.Y.-based hardware and services vendor is also expected to undergo a surge in employees, as it adds some 30,000 members of the consulting arm of accountancy PricewaterhouseCooopers. IBM expects to complete the deal by the end of September, Makovich said.
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Pradip Bhat
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Joined: Jul 04, 2002
Posts: 149
These things are common in the days of cost cutting.Although not good for programmer's community, its good for consumers.
[ August 14, 2002: Message edited by: rahul rege ]

Yeshwantpur
srinivasan ganesan
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Joined: Mar 09, 2001
Posts: 54
Big Deal!!!
Jim Yingst
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Joined: Jan 30, 2000
Posts: 18671
I think the 15000 themselves probably find it significant. I'm sure they thank you for your compassion and intelligent contribution to the discussion.


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Anthony Villanueva
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Joined: Mar 22, 2002
Posts: 1055
Definitely a bad karmic credit risk.
Anonymous
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Joined: Nov 22, 2008
Posts: 18944
Originally posted by Jim Yingst:
I think the 15000 themselves probably find it significant. I'm sure they thank you for your compassion and intelligent contribution to the discussion.

I was one of them , and i couldn't have echoed my sentiments better then Jim's. Thank you for your "intelligent contribution" guys
 
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