Posts Tagged ‘IBM’

IBM Corp. plans to lay off about 5,000 U.S. employees in a new round of job cuts, the Associated Press has learned. The move reflects IBM’s aggressiveness in shifting labor to lower-cost regions like India and keeping its profits aloft at a time when other technology companies’ earnings are tumbling.

An IBM manager knowledgeable about the plans said the cuts will come from the services division and workers will be informed Thursday. The person spoke on condition of anonymity Wednesday because he was not authorized to discuss the plan publicly.

The layoffs were reported earlier by The Wall Street Journal. (AP)

Technology giant IBM is resorting to “scattered layoffs” and the total could be nearly 4,600 employees in North America even though the company has reported surprisingly strong quarterly profits in January, a media report says. (Sify.com)

An unofficial online employee Web site, IBMemployee.com, says massive layoffs are coming to Big Blue later this month.

While IBM spokesman Fred McNeese says the company “does not comment on rumors or speculation,” there’s plenty of both on the site. (RecordOnline)

Speculation about this plant closing has been in the local papers for a decade.  One time, they’ll get it right.

IBM is thriving, except for the division that includes Vermont’s microelectronics plant.

Revenues and profits have increased substantially, and IBM’s stock is trading near its 52-week high of $130 a share. But the computer giant’s Systems and Technology division, the business group that includes the Essex Junction plant, has seen revenues lag — alarming local workers and fueling rumors of large-scale layoffs.

Company spokesmen have said little to quash the concerns, sticking to a policy of not commenting on rumor or speculation. [Burlington Free Press]