Posted on 05/24/2016 7:16:29 AM PDT by Lorianne
Software giant IBM is initiating another round of job cuts the company announced in April, according to multiple media reports.
The number of positions cut could top 14,000, Stanford Bernstein analyst Toni Sacconaghi told The Wall Street Journal.
The cuts come as the company recorded its 16th consecutive quarterly loss. Big Blue has struggled with its core software business in the face of increasing cloud computing, analysts said.
A company executive told WRAL TechWire IBM is "aggressively transforming" to offer more cloud-based computing and could rehire just as many employees to assist in that effort as are being let go presently.
Some of the eliminated positions are being moved overseas, employees told the Journal.
(Excerpt) Read more at upi.com ...
Forward comrades!!
IBM has joined most other big IT employers in denying jobs to Americans. Go they can go to hell.
Yet, the evening news last night said we were at 100% full employment so 0% unemployed.
Anyone wanna buy a bridge?
I’m seeing a pattern, where supposed USA corporations are hiring a bunch of foreign workers, and then laying off a similar same number of their USA workers.
Is that as simple as it seems: replacing USA workers with cheaper foreign workers? If they are truly USA corporations, wouldn’t they be replacing USA workers with a new batch of USA workers? It seems like USA corporations, like USG do not care about USA citizens anymore, but have some other agenda; a global mindset; specifically and deliberately non-USA.
The FRee traitors will just admonish you for making such a nationalistic/isolationist attitude. They will tell you that their profits come first, period.
That’s just how it is. If you can’t compete with third world, communist governmemt susidized near slave labor, then it sucks to be you.
Virginia Rometty, IBM’s CEO, got a $4.5 million bonus for 2015, in addition to $1.6 million in base salary. In addition Rometty got $13.3 million in stock awards, those will be paid out in three years
Paid a lot of money but at least not a hundred million a year.
Almost a reasonable amount compared to some companies.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.