Comment by mathattack

Welcome to life under IBM. They’re in the business of a financially engineered shrinkage. This is what happens when innovation and growth stops.

What you see from IBM:

- Cut expensive (old) employees.

- Market everything as the New thing. (Watson)

- Audit your customers. Settle by forcing them to buy the New thing even if they don’t need it.

- Current and former execs go on book tours.

- Buy back shares.

This is all rational when you can’t put capital to good use anymore. It just sucks to be a customer or employee of them.