TECHNOLOGY - Dec. 15, 1992
From Times Staff and Wire Reports
IBM to Announce More Cost Cuts: IBM will announce today another round of cost-cutting moves as the computer maker attempts to improve its profitability, industry executives said. The announcement, expected before the stock market opens, follows a special meeting of the IBM board of directors, the executives said, speaking on condition of anonymity. IBM Chairman John F. Akers convened the rare December meeting as the company’s profit outlook continued to deteriorate. Details of the cost-cutting program could not be learned but were expected to include tens of thousands of job eliminations and consolidation of manufacturing.
