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.

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Re:so...

[Greyfox]

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!