IBM ponders possible role for Meyerson
Article Abstract:
IBM executives have recently held conversations with eccentric computer executive Morton H. Meyerson about the future of the company. Meyerson, the former president of Electronic Data Systems Corp, advocates either hiring 'superstar executives' like Michael H. Dell of Dell Computers Corp to run IBM's microcomputer unit and Scott McNealy of Sun Microsystems Inc to run IBM's workstation unit, or selling the units to those respective companies. Another far-fetched proposal from Meyerson includes signing on General Electric Chmn John Welch by selling part of IBM to GE. Meyerson has reportedly suggested names to a committee searching for a replacement to IBM Chmn and CEO John Akers. However, Meyerson himself is considered still in the running for that position.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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IBM is planning $2 billion charge to slash jobs: second-quarter write-off to cover 50,000 people twice earlier forecast
Article Abstract:
IBM is planning to layoff about 50,000 employees and take a charge of about $2 billion for 2nd qtr. The latest move will reduce IBM's workforce to about 250,000, down from a 1985 high of 405,000. The workforce reduction also could reduce IBM's book value to approximately $44 a share, depending on tax treatments. It is also anticipated that the company will once again cut its dividends, possibly as soon as the firm's board meeting in Jul 1993. IBM's new chief, Louis Gerstner, has warned shareholders of further cost and workforce reductions in the company's May 1993 prospectus. IBM has also warned its employees in early 1993 that benefits packages would be greatly reduced for employees who leave the firm after Jun 30, 1993.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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