IBM to Lay Off Half of Global Services Division

Rolgar writes "Cringely says that IBM has begun massive layoffs in a quiet manner, starting with 1300 employees, but by the end of the year, the total will rise to at least 100,000 and probably closer to 150,000 employees, nearly 40% of their U.S. workforce. Some people will be temporarily retained as contractors at a fraction of their salary, and eventually, IBM will also dump many of the unprofitable customer contracts worked on by Global Services or outsource the work to Asia. If these people are looking for work, that could seriously drop wages for technical workers in the US since they will have to compete with these people for available jobs."

Comments

Are We All Better Off?

[mpapet]

The claim may not be true.

Either way, are /.'ers better economically better or worse off with the current political leadership?

It also leads me to wonder what valuable service do most middle-americans offer each other and the world that can't be had anywhere else? This, I believe, is the basis of the economic crisis that has yet to unfold in America.