This post originated from an RSS feed registered with Agile Buzz
by James Robertson.
Original Post: IBM says ouch
Feed Title: Cincom Smalltalk Blog - Smalltalk with Rants
Feed URL: http://www.cincomsmalltalk.com/rssBlog/rssBlogView.xml
Feed Description: James Robertson comments on Cincom Smalltalk, the Smalltalk development community, and IT trends and issues in general.
During a conference call yesterday to explain a 9 cent per share earnings miss, IBM confessed it would consider a "sizable restructuring" but declined to detail what form this reorganization would take. Sanford Bernstein's meticulous analyst Toni Sacconaghi has predicted the restructuring will likely result in between 5,000 and 10,000 staffers losing their jobs. If there are job cuts, they will probably be tied to IBM's mainframe business and particularly mainframe workers in Europe, according to pundits. IBM's mainframe business suffered a double-digit drop in sales during the first quarter, and weak economies in Europe and Japan were blamed for the overall revenue miss.
Then again, is this just one of those "must hit the quarterly numbers" things that panic public companies?
Previous Topic
