IBM to cut more than 2,800 jobs: Union

[OhioChick]

Source: Economic Times India

27 Jan 2009, 0551 hrs IST, AGENCIES

WASHINGTON: US computer and software giant IBM Corp is planning to cut more than 2,800 jobs, a labor union representing the firm's employees said Monday.

According to the Alliance@IBM, a member of the AFL-CIO, the largest US labor union federation, IBM intends to eliminate 1,419 jobs in its software division and 1,449 jobs in sales and distribution.

"Cuts in other divisions expected. Stay tuned!" Alliance@IBM said on its website.

IBM, which reported on January 20 full-year 2008 net profit that beat market expectations and predicted a stronger performance in 2009, was not immediately available to comment on the union's statement.

Read more: http://economictimes.indiatimes.com/Infotech/IBM_to_cut_more_than_2800_jobs/articleshow/4034614.cms

[Ichingcarpenter]

1. Anyone know what the real total is today? 65,000?...85,000?

And the stock market goes up?

[OhioChick]

2. Investors salivate at job loss.

Last I heard...it was 85K lost.

Finance crisis claims government, 85,000 jobs

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3707215

[stillcool]

3. The market loves when labor costs go down...

but cheese and crackers these lay-offs are coming fast and furious. This shit is scary.

[Ichingcarpenter]

4. Its like they don't get it ....... somebody has to buy their product

Wall Street is still delusional

[KillCapitalism]

5. It will hit them soon enough.

I hope these corporate people are smart enough to put two and two together when sales of their products begin to fall off of a cliff.

[stillcool]

6. I think there is something to the..

global aspect of all these corporations. I read just recently that GM built a brand-spanking new plant in India to produce something that has to do with trains in Europe. Maybe all these corporations that are having mass layoffs, have a market elsewhere for their goods, and don't need the U.S. anymore to consume their products.

[Azlady]

8. That is what I have been wondering - they simply to do not need us anymore..

[ihavenobias]

7. It's just a slaughter at this point.

:(