More IBM Layoffs in the Works

Company Cuts Jobs Despite Strong Quarter

When its financial quarter ended in January, IBM reported net income of $4.4 billion, or $3.28 a share, on revenue of $27 billion.

Nevertheless, the technology giant’s employee union posted a warning on its site that job cuts are imminent.

Round 2 for 2009

The number of layoffs that will be made is unknown. The jobs will be cut from the U.S. global business services unit, the company’s largest group. The global business services unit employs the most people and pulls in the most revenue.

All in the name of outsourcing?

IBM is cutting U.S. workers in favor of shipping jobs over to India, according to CNBC. IBM seems to be making a habit of this, so employees might want to get cash advances on their salaries — way in advance.

As IBM plans to lay off workers and give their jobs to people overseas, it is also planning to acquire another company, Sun Microsystems.

Let’s make a deal

The Wall Street Journal reports that IBM is considering buying Sun Microsystems for $6.5 billion — in cash. The purchase would allow IBM to consolidate some server market share.

The talks have been going on for a while, and columnist Dana Gardner thinks the “leak” about the deal was just a ploy orchestrated by Sun itself. Gardner is of the opinion that Sun fabricated the alleged deal in the making, including price, to make itself more attractive to other companies who might want to buy it. ... click here to read the rest of the article titled "More IBM Layoffs in the Works"