IBM To Cut More Than 110,000 Jobs

[AtW]

Well, they sold off all their crown jewels instead of trying to compete and keep the edge.

[TestMangler]

Worked for them, in their advanced server prototype lab, back in the early nineties (my first contract) and it was great place to work, although it was product research/development. Worked for them again in 1999 when they were an IT service provider to General Accident and it was an awful experience

[Platypus]

Well, they sold off all their crown jewels instead of trying to compete and keep the edge.

Really? The commodity PC market, the commodity server market, the money-losing chip making business?

Which of these were crown jewels. Many observers reckon that getting rid of commodity and loss-makers is smart strategy.

[AtW]

Really? The commodity PC market, the commodity server market, the money-losing chip making business?

They should have licensed IBM PC from start, that would have kept the prices controlled via license fees. Money losing chip making business? Well, they've got all those FOOKING MBAs to figure out how to make money on that!

Which of these were crown jewels. Many observers reckon that getting rid of commodity and loss-makers is smart strategy.

It's such a fooking brilliant strategy that IBM will be cutting 26% of jobs...

[darmstadt]

I always take 'industry analysts' with a pinch of salt:

IBM has released a statement:
"IBM does not comment on rumors or speculation. However, we’ll make an exception when the speculation is stupid. That’s the case here, where an industry gadfly is trying to make noise about how IBM is about to lay off 26 percent of its workforce. That’s over 100,000 people, which is totally ludicrous.
"The fact is that IBM already announced, after 3Q earnings report, that the company would take a $600m charge for restructuring. That’s several thousand people. Not 10,000, or 100,000. Moreover, IBM currently has job postings for more than 10,000 professionals worldwide, with more than half of them in growth areas such as cloud, analytics, security and mobile technologies.
"A little perspective on IBM’s earnings is in order. The company still makes huge profit… $21 billion in operating pre-tax profit last year. And IBM’s “strategic imperatives” represent 27 per cent ( and growing ) of the company’s total revenue… $25 billion in revenues, up 16 percent. We have high growth in a substantial portion of the portfolio, and those areas (CAMSS) have better-than-normal margins in areas that matter most to clients today — that’s the heart of the IBM transformation."

I know some quite high up people in IBM EMEA and mailing them has yielded no information either...

[AtW]

Those dirty spekulants!!!

[Grasser73]

Well, they've just renewed me, and 20 or so other contractors here, for another 12 months and they still need more bodies on the project. This news has the potential for things to get 'interesting' though.

[tractor]

...

It's all OK, Waitrose are creating 2000 new jobs.