Has anybody other than contractors been furloughed or laid off yet?
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I think you have to look at the 4 corners of IBM and decide where to realign. Cognitive and Servers did well (all things considered). GBS broke even, and GTS continued its shrink of 4-6% year over year. Everyone can see that GTS has some portion of it that continues to shrink and will be the mill stone around IBM’s neck until that is addressed. Will other pieces of Systems, Cognitive, a or GBS also have some shrinkage in it due to legacy. Most likely. It’s time to address all of those problem children. IBM has studied this to death. They hired 2 consulting firms to give them input. They know the answers just pull the trigger and move the corporation along. Yes it will cost IBM revenue, but they will get a one time injection of cash from the sale, and perhaps a strategic partner who can better manage the bleeding legacy. It’s time to transform IBM. Everyone on Wall Street is surprised you haven’t pulled the trigger yet. NOTE the revenue growth is there for “new” IBM Get it behind us See below
https://seekingalpha.com/article/4339375-ibm-hidden-strength
If not, when will it start?