April 16, 2005

After announcing poor revenues and earnings, IBM may be ready to fire 10,000 employees in order to boost profits. IBM suffered a huge drop in sales of mainframe hardware, software, and services. In addition, because of revenue growth at Apple, Dell, Sun, and Accenture, many analysts believe that the problems are specific to IBM and not related to the overall IT services business. In recent quarters IBM was booted out of big contracts at J.P. Morgan Chase, Cable & Wireless, Invensys, Starwood Hotels & Resorts, and Piper Jaffray.

Here are the Links

The Register Story Here

The Forbes Story Here

The CNET / N.Y. Times Story Here