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Thread: IBM starts laying off 13000 people starting Feb 26 |
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Thread Status: Active Total posts in this thread: 4
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges: 
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Story
----------------------------------------This sounds like it's been in the planning stages for a while but it must really suck after IBM announced it was spending $1B on Watson. Of course the layoffs will cost IBM another $1B or so but I guess in the long run it's in their best interest to cut head count. Wall Street analyst Toni Sacconaghi, from Bernstein Research, said in a note to investors that he estimates IBM will cut "at least 13,000 heads" worldwide, as reported by Barron's Tiernan Ray. Sacconaghi figures it costs IBM about $70,000 to let an employee go, reports The Poughkeepsie Journal. Not all of the cuts will necessarily be layoffs, either. IBM recently sold one of its computer server businesses to Lenovo and about 7,500 jobs will shift from IBM's payroll to Lenovo's when that deal closes. IBM has said it's looking to sell other business units, too.   [Edit 2 times, last edit by twilyth at Feb 25, 2014 5:52:53 PM] |
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gb009761
Master Cruncher Scotland Joined: Apr 6, 2005 Post Count: 2982 Status: Offline Project Badges: 
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Yes, having been there and suffered the 'tap on the shoulder', I know exactly what all those who are in the firing line are feeling. Not an emotion I would wish on anyone
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twilyth
Master Cruncher US Joined: Mar 30, 2007 Post Count: 2130 Status: Offline Project Badges:
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Well, they have nearly a half million employees and it looks like most of the jobs will be cut by selling off units like the one they sold to Lenovo. That alone counts for more than half of the 13k.
----------------------------------------Unfortunately, 13k was the minimum figure the article quoted. Even so, with nearly 500k employees, the odds of getting chopped should be pretty low |
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RaymondFO
Veteran Cruncher USA Joined: Nov 30, 2004 Post Count: 561 Status: Offline Project Badges:
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Please remember this is not an official news announcement from IBM or any of its entities, but rather a Wall Street analysts opinion. As the analyst has stated, job reductions include IBM selling off various business enterprises and reduction in jobs could occur that way, through attrition, or some other way not discussed, or not at all. Take the article for what its worth until an official announcement occurs.
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