Intel Corp (INTC)

[Andy Grave]

.....I'll have to make a few phone calls......even after 14 years, there should be a few people left I knew well.

IBM reportedly laying off up to 25% of hardware/chip division
Feb 28 2014, 12:36 ET

A source tells CNET IBM's (IBM +0.3%) layoffs involve up to 25% of employees in its hardware/chip unit (i.e. the Systems & Technology Group).
The division saw a 26% Y/Y sales drop in Q4, bleeding share to rivals ranging from from H-P to EMC to TSMC. Since then, IBM has announced it's selling its x86 server business (sales -16% in Q4) to Lenovo for $3.2B, and the WSJ has reported Big Blue is thinking of unloading its chip manufacturing ops (believed to be losing money).
IBM expects to record a $1B workforce rebalancing charge in Q1.