It is no secret that International Business Machines Corp. (NYSE: IBM) has been a lagging stock. It hasnt helped out that IBM is a Dow stock, nor that Warren Buffett keeps buying up its shares even though Berkshire Hathaway already is the largest shareholder.
Now comes a note from Wells Fargo that IBM is starting to execute on an announced restructuring. Maynard Um, the Wells Fargo analyst behind the call, sees IBM continuing to restructure its workforce to align with strategy.
Mondays report said:
Media sources (WSJ) noted IBM is laying off several thousand employees in multiple U.S. locations as the company restructures and realigns itself to move more toward cognitive solutions and cloud platforms…
Read the full article at: http://247wallst.com/technology-3/2016/05/23/is-the-ibm-restructuring-really-taking-hold/