The worries expressed by the locals in this video from late last year have proven to be more than just worries. According to recent news reports, IBM is now planning to lay off 5,000 U.S. based employees.
According to The Associated Press, “The move reflects IBM’s aggressiveness in shifting labor to lower-cost regions like India and keeping its profits aloft at a time when other technology companies’ earnings are tumbling.”
2009 is proving to be even more hard hitting and stressful for the average citizen as more and more companies are moving towards low-cost labor. Those are the countries who are going to emerge strong from this recession.
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