Updated Feb. 12, 2014 at 7:49 a.m.

Premium Lock IBM layoffs strike first in India; workers describe cuts as 'slaughter' and 'massive'

Published: 2014-02-11 11:34:00
Updated: 2014-02-12 07:49:18

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IBM's latest $1 billion "rebalancing," as described by its CFO, is underway. And the first country hit is India, based on reports from Blue Blue workers there. The so-called "Resource Action" struck in the country where IBM reportedly employs its greatest number of workers. One employee describes the layoff process as a "slaughter."...

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TPs == Thinkpads
after decimating the US employees, Ginni has no choice but to make massive layoffs overseas as there aren't enough US employees to help her meet the $20.00 EPS by 2015 challenge.
In the last 20 years I think the market has confused the role of the CEO with the CFO. The last one should be only worried about finance and suggest layoff everytime needed. The CEO, on the other end should set a medium (we cannot use long anymore) term strategy to avoid layoff. If this does not happen mean that the CEO is doing his/her job.
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