IBM sets job cuts, $6 billion charge

Article Abstract:

IBM revealed plans on Dec 15, 1992, to eliminate 25,000 jobs in 1993. The move may force the company to implement layoffs for the first time in more than 50 years. IBM also announced it would take a $6 billion charge against its 4th qtr 1992 earnings to cover the costs of the layoffs and other expenses.

Finance

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IBM sets $8.9 billion charge for further downsizing

Article Abstract:

IBM Chmn Louis V. Gerstner announced on Jul 27, 1993, that IBM planned to lay off 35,000 employees by Jan 1995, reduce the number of its plants and reduce its quarterly dividend. IBM reported a loss of $8.04 billion for 2nd qtr 1993.

Human resource management

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Digital's founder steps down

Article Abstract:

DEC Pres Kenneth H. Olsen resigned on Jul 16, 1992, stating that the board of directors had forced him to take this action. Analysts believe that Olsen did not wish to implement measures that would stabilize the company.

Officials and employees, Appointments, resignations and dismissals, Digital Equipment Corp., Olsen, Kenneth H.

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