IBM records profit after transferring jobs to India

By agencies   |   Thursday, 20 July 2006, 07:00 Hrs
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NEW YORK: IBM has accounted its recent profit in quarterly results, to reducing the head-count of the company.

Recording a second-quarter profit rise of 11 percent, the world's biggest computer-services provider, said that this was possible as the company reduced expenses by cutting jobs in Europe and shifting work to India.

IBM had fired 14,500 workers in the past 14 months, mainly in Europe. With its net income rising to $2.02 billion, from $1.83 billion, IBM plans to invest $6 million by 2009 to expand the higher margin services here.

One out of eight of its employees are in India.

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