IBM to layoff 150,000 - is it because of Patni acquisition?
I believe most of you might have heard about the story that IBM is laying off 150,000 employees. Here is the complete story. (Here is another story where analyst say it’s a rumor .. link here)
However my question is, Are the layoffs in IBM because of the rumors about the acqusition of Patni (read the full story about Patni acquisition here).
The rumor about Patni acquisition started way back in July 2006. Look at the increase in the stock price from July 2006 (information sourced from Google finance) definitely it kept increasing. The price went from $14 to $28 today.
I have also heard from some credible sources that many of Patni’s top management are leaving the company in the last 6 months. There all are definitely a sign of big acquisition. What do you think?