An estimated 4000 IBM employees have been laid off in the last week, as the company adjusts to the current way of the world. Why do we care? Because IBM make a lot of stuff.
If you own a 360, IBM made the Xenon chip that runs it. If you own a PS3, IBM helped make the Cell that power's Sony's machine. And IBM made the Broadway chip that runs the Wii.
The job cuts were designed to spur recent profits at the company, which are actually up 10% in recent weeks. Which is good news for shareholders, but for the 4000 sacked? At least if the company was going down the drain there'd be something more reasonable to blame.
IBM quietly cuts thousands of jobs [Associated Press]