IBM rattled the markets on Thursday evening when it missed its first quarter earnings targets. Now, the industry is waiting to see how Big Blue--which rarely slips up on financial forecasts--will react.
An IBM insider on Friday said changes, most likely involving some layoffs, are planned for the middle of the second quarter.
Disappointing earnings from other tech companies fans fears that corporate spending on information technology is slowing, or is weaker than expected. Sun Microsystems saw its revenue fall, while Siebel and BMC Software issued warnings.
IBM's CFO Mark Loughridge blamed Big Blue's miss on "execution … Read more