Report: IBM planning massive layoffs; +1.2% premarket
A massive reorganization know as Project Chrome will result in layoffs of more than 110K employees, or 26% of the workforce, writes Robert Cringely, who describes the move as "pure accounting resource action" driven by the C-suite's desire to make the numbers over the next few quarters look good. Related: IBM Set To Cut 26% Of Workforce (Jan. 26) IBM +1.2% premarket
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