Posted on 03/25/2009 4:31:49 PM PDT by anniegetyourgun
* Latest round hits more than 4 pct of U.S. workforce
* Job cuts mostly in IBM's global services business
* Shares close down 0.42 pct (Adds analyst comment, details on IBM's recent results)
NEW YORK, March 25 (Reuters) - IBM (IBM.N: Quote, Profile, Research, Stock Buzz) will cut about 5,000 jobs in the United States, adding to similarly large cuts in the past few months, sources with knowledge of the matter told Reuters on Wednesday.
The job cuts will account for over 4 percent of IBM's U.S. workforce, which totaled around 115,000 at the end of 2008. The sources, who were not authorized to speak publicly on the issue, said the cuts will mostly be in IBM's global services business, which includes outsourcing and consulting services.
(Excerpt) Read more at reuters.com ...
I read somewhere IBM is sending more jobs to India. Can’t say I blame them. Nobama isn’t exactly creating a friendly business climate in America.
Big Blue will get their H1-b quota though you can bet your bottom derivative.
Without Obama’s stimulus package, the cuts would have been 10,000. This really means that 5,000 jobs have been saved.
I think Global Services is their outsourcing division (as in, “Hey there Mr. CEO, let us help you save money by shipping American jobs to the 3rd world.”), so it’s kind of a delicious irony to see them getting slashed. What, exactly, does IBM produce anymore? I mean other than unemployed US programmers and engineers.
The 4,600 IBMers laid off in January (from the US), was the result of the on-going financial crisis —not that IBM had a financial crisis but they used it as a smoke screen to offshore those jobs OUT of the US.
There’s a reason “IBM” is now know (inside the company) to mean “India-Brazil-Mainline China”
Many of this next wave of 5,000 US-based IBMers will also result in a transfer of jobs to other third-world $hitholes.
IBM isn’t cutting their overall employee numbers —they are merely moving them out of the US to cheaper, slave-labor wage locations.
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