IBM is no longer an American company. It has more overseas workers than in the US and is exporting even more jobs.
Workers being laid off will not have moving expenses covered if they go to India, and India would not probably give them work visas anyway.
IBM’s CEO and execs continue to get fat bonuses.
At one time IBM was the pride of American labor. It’s wages were the highest, its benefits unmatched, and its concern for the workers unparalleled. If a union organizer showed up, it was the employees who chased him off. It never had a layoff, even during the depression.
Now it is one of the slimiest, empoyee-unfriendly companies around. Twenty years ago IBM was heralded as one of the seven best companies in America. All seven are now down the tubes.
And twenty years ago, IBM was broke. Their fortunes started going downhill, and by 1990, they had to start selling off the profitable divisions in order to keep going.
The company is profitable again, and if they need to move more operations overseas in order to keep going, I think it's sad, but I applaud them for doing so. And the way our tax policies are going, it wouldn't surprise me to see them move their headquarters to some more accommodating country.