IBM Cuts Jobs

Author	Hugo Jobling
Published	29th Jan 2009

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IBM is reportedly joining the likes of Microsoft, AMD and Panasonic in cutting a sizable number of staff. Although unlike those other companies, Big Blue is doing so relatively surreptitiously, making no formal announcement.

IBM says the cuts are part of its usual course of business and, as such, don't warrant any specific disclosure. Although with rumours of some 4,000 staff (some one per cent of the company's workforce) being cut in the period after IBM reported its forth quarter earnings release, it's hardly surprising to hear speculation that the two instances are related.

Given IBM recorded a $4.4 billion (~£3.1 billion) net profit last quarter, a 12 per cent year-on-year growth, it seems reasonable to accept these job cuts as par for the course, rather than a radical money-saving move. Although that will be of o consolation to those no longer under IBM's employ.

Link:
Associated Press (via Google).