Interesting business news:
-IBM exceeds earnings estimate + no layoffs announced
http://www.infoworld.com/article/09/01/21/IBM_posts_strong_Q4_results_no_layoffs_announced_1.html
-Microsoft will likely miss earnings target + layoffs expected
http://blogs.zdnet.com/BTL/?p=11561
http://news.cnet.com/8301-13860_3-10145720-56.html?part=rss&subj=news&tag=2547-1_3-0-20
Subject: IBM quietly cuts thousands of jobs
By Jordan Robertson, Associated Press
SAN FRANCISCO — With the recession forcing tech companies to announce thousands of layoffs, IBM is joining the fray — but not advertising it.
The Armonk, N.Y.-based company has cut thousands of jobs over the past week, including positions in sales and the software and hardware divisions. IBM says the cuts are simply part of its ongoing efforts to watch costs, and the company won’t release specific numbers, even as reports of firings stream in from IBM facilities across the country…
http://www.usatoday.com/tech/news/2009-01-28-ibm-job-cuts_N.htm
Despite the layoffs, the difference in earnings results is still significant for the companies.
Subject: IBM did not “announce” layoffs but the press is reporting 2800 layoffs have or will happen this week