Re: Rueters news article on IBM actions

[Glenn Ericson <Glenn-Ericson@xxxxxxx>]

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Lou will not accept this without  highly leveraged COLA and life time no
cost benefits without limitations


  jpcarr@tredegar.com wrote:

>Or
>
>IBM plans to 3% of work force to pay for Lou G's retirement payout and to
>realign financial reporting practices that over the last several years have
>reported pension information as revenue.
>
>or something like that.
>
>John C.
>---------------------------
>
>          SNIP
>Sources familiar with the situation have said IBM plans to cut 7,950 to
>9,540 jobs, or 2.5 percent to 3 percent of its work force.
>IBM has declined to comment on the broad cuts, but its new chief executive,
>Sam Palmisano, hinted of such reductions during a recent meeting with
>analysts. [SNIP] Palmisano says the company needs to cut costs to align
>operations with weaker corporate demand for new technology.
>   REUTERS © 2002 Reuters
>
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