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IBM may fix slump by firing 10,000 – analyst

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IBM may fix slump by firing 10,000 - analyst

IBM could cull up to 10,000 workers to make up for a disconcerting first quarter revenue shortfall, according to a top financial analyst. The question is whether these cuts will tidy the bottom line enough to offset what appear to be broad problems plaguing the company.

During a conference call yesterday to explain a 9 cent per share earnings miss, IBM confessed it would consider a “sizable restructuring” but declined to detail what form this reorganization would take. Sanford Bernstein’s meticulous analyst Toni Sacconaghi has predicted the restructuring will likely result in between 5,000 and 10,000 staffers losing their jobs.

Read the complete story. (The Register)