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IBM Pays GlobalFoundries $1.5 Billion To Shed Its Chip Division
helix2301 writes with word that Big Blue has become slightly smaller: IBM will pay $1.5 billion to GlobalFoundries in order to shed its costly chip division. IBM will make payments to the chipmaker over three years, but it took a $4.7 billion charge for the third quarter when it reported earnings Monday. The company fell short of Wall Street profit expectations and revenue slid 4 percent, sending shares down 8 percent before the opening bell.
They're really good at outsourcing and cutting employee benefits. Eventually they'll be down to one employee who's outsourced through 15 different countries and actually pays them to work there. Then they'll be the most profitable company in the world!
I'm trying to teach myself to set people on fire with my mind... Is it hot in here?
Enterprise Software - IBM is still the kingpin in this
Cloud - Since they bought SoftLayer and combined them in with their existing portfolio, IBM is one of the largest companies in cloud today
Security - Taken as a standalone unit, IBM Security software & services is the second largest company in security today, second only to Symantec. It's bigger than McAfee now.