Posted on 03/25/2009 7:24:00 PM PDT by tobyhill
Reports of deep job cuts at International Business Machines (IBM) come at a potentially delicate time for the company—just as it is hoping to secure money from the federal stimulus package. The company will lay off as many as 5,000 U.S. workers in its Global Business Services unit, transferring some of the work they performed to India.
IBM spokesman Mike Fay declined to confirm or to comment on any job-cut plans, which were reported on Mar. 25 by The Wall Street Journal (NWS) and Bloomberg News. The cuts will affect mainly information technology and consulting work in such areas as customer relations management and supply chain management, says Lee Conrad, national coordinator of Alliance@IBM, a group that is seeking union representation at IBM and is allied with the Communications Workers of America Local 1701.
(Excerpt) Read more at businessweek.com ...
ping
The news—even without IBM saying anything—provoked criticism from worker groups. “It’s all about greed,” Conrad said Wednesday. “They’re moving work offshore to pay lower wages and lower taxes. IBM shouldn’t have their hands on stimulus money if they’re offshoring work.”
I AGREE. NOT ONE RED CENT SHOULD LEAVE THE USA.
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Our copany is doing this, too, after receiving TARP money. I'll find out on Friday whether I still have a job or not.
They’re just taking advantage of what the Government allowed when they dished out all these taxpayer’s funded “stimulus” plans.
I know. They gave out money with no strings attached. (except they forgot to tell everyone that they would own 80% of them)
Agreed. ...probably much higher than 70%, even. And the solution is avoid buying anything from businesses with such practices.
The companies that figured it out are trying to take the money and run out of the country.
Can’t say I blame them. Why pay 90% taxes on it?
ibm needs “stimulus” money?
Another company having a John Galt moment. Soon more companies will be leaving America.
I have to disagree with you. As a recently laid-off former IBMer, I DIDN’T vote of Obama. Did I deserve it???!!!!
You folks saying IBMers “deserve it” need to rethink that. As I said, I was an IBM employee for 11 years and was part of the “resource action”. I’ve been voting Republican since I was old enough to start paying taxes.
IBM is not only offshoring jobs, it is also “onshoring” jobs. I did IBM tech support for 2 years for a company called CGS out of NYC. They onshored their tech support to a US company who hires mostly...foreigners. That way they can claim to be US based. The end result is that the workers get foreign pay and IBM gets to wash its hands of the result while claiming US support. Might as well send those jobs to Bangalore. At least there $11/hr will get you an apartment.
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