August 22, 2003

IBM lays off 15,000, HP 1300

Veteran IBM-watchers know how testing it is to read one of the
company's financial statements. In the early days of the cold war,
Churchill described the Soviet Union as "a riddle wrapped in a mystery
inside an enigma". But compared to earnings releases from companies
such as Apple and Sun - who provide terse and lucid declarations - you
can be forgiven for thinking of IBM's announcements as a cloud wrapped
in a fog containing a temporary heat-haze.


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