IBM and TI feel the heat, lay off thousands

Just so you know it isn’t just the younger players dropping jobs like it’s going out of style, it looks like the blue chips are feeling it, too. IBM’s actually not doing too bad, having hired 20,000 over the last year, but that didn’t stop stagnation from creating 2800 redundancies.

Texas Instruments, which does a lot more than make the excellent TI-series calculators, saw its profits drop 95%, from about $1bn last year’s Q4 to $55m this year. That’s harsh, but at least it’s not a loss, like the beleaguered and possibly doomed AMD’s negative $3.1bn bottom line. Still, a 95% loss in profit isn’t good news, and they’ve sacrificed 3400 jobs on the shareholders’ altar.

If this keeps up, the only people left in this country with jobs are going to be bartenders and Spam factory workers.