http://www.bloomberg.com/news/2013-08-05/ibm-furloughs-u-s-hardware-employees-to-reduce-costs.html
International Business Machines Corp. (IBM)
said it’s requiring the majority of U.S. employees in its
hardware division to take a week off with reduced pay, cutting
costs as demand slows for products such as servers.
U.S. hardware employees, including those involved in
development and procurement, will take a furlough week with one-third pay starting either Aug. 24 or 31, said Jay Cadmus, a
spokesman for the Systems and Technology Group. Executives in
the division will take no pay during the week.
The world’s biggest computer-services company is trimming
expenses to preserve profit margins as hardware revenue
continues to decline. Sales in the unit, which also includes
storage devices and microelectronics, slid 12 percent in the
second quarter from a year earlier to $3.76 billion.
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