IBM Corp. this summer will lay off hundreds of workers in the Hudson Valley region as part of a $1 billion company restructuring that could cut as many as 8,000 jobs worldwide.
IBM employees in Dutchess County began receiving layoff notices Wednesday, when the computer technologies giant notified the state Department of Labor that  697 employees will lose their jobs in the county. A total of 369 workers will be let go from the East Fishkill plant and 328 from IBM’s Poughkeepsie facility.
IBM told the Labor Department the layoffs will take effect Sept. 10.
It was unclear how many employees will be affected in Westchester County, where IBM has its headquarters in Armonk. At least 100 workers reportedly will lose their jobs here.
Ned McCormack, communications director for County Executive Robert P. Astorino, today said IBM had not notified the county of layoffs.
IBM has not released a public statement on the layoffs and restructuring. The cuts are expected to trim staffing across various departments and locations and affect employees with differing levels of seniority.
The workforce downsizing follows disappointing first-quarter results for IBM, including its first earnings shortfall since 2005, according to Bloomberg reports. First-quarter profits were $3 a share, or 5 cents below analysts”™ predictions.
U.S. Rep. Sean Patrick Maloney, a Putnam County Democrat, said he would create a “community transition team” that will bring together community leaders, elected officials and other organizations to help families affected by the cuts.
“This is devastating news for our neighbors and friends at IBM,” Maloney said in a press release. “But I want them to know that their community is here for them, and we will do whatever possible to get them through this difficult time and get them back to work as soon as possible.”
The truth: Bad management decisions by the top impact the hard workers under them.
It happens time and time again – when the same cast of characters – The Board, Chairman, CEO, President, CFO, CMO, CIO, COO, CSO, (and many others) make decisions which are either good for Wall Street (to get that pennies per share price up) or good for them (so they can hold onto their jobs for another year).
It’s the typical corporate two-step – instead of innovation and growth – they focus on swaying to the gyrations of factory/office closings and staff reductions.
Why isn’t IBM in mobile computing? They used to be a leader. Answer: Short sighted vision and watching their butt management.