IBM covertly fires domestic employees while seeking for a cheaper foreign workforce
Known for their impressive stance in the information technology industry, IBM also has an ulterior motive in maximizing profits while handing corporate executives that extra bonus they ever so deserve. According to many speculations, the multinational tech firm has reportedly laid off an estimate of 10,000 employees in the year of 2009. The company has been blamed incessantly because of its offshore hiring in locations such as India, China and Brazil. The man heavily responsible for these unfortunate self-interested employment losses in North America is the CEO of IBM, Samuel J. Palmisano. While employment in IBM is dwindling, Palmisano’s is gladly enjoying his whopping $21 million in compensation with $4 million in bonus.
Is it even just for the CEO of an infamous IT company to receive a large sum of money while only driving revenues up by a mere 5% from 2007 to 2008? Where’s the appreciation to the employees who aided in creating IBM’s stature and success today? They were the framework to the corporation’s current status, yet now the hands are being dealt over to foreign workers who are being paid as little as possible. But save the empathy and feelings for another time because to them its just “business as usual”