IBM’s CEO has a perfect response to her critics

IBMIBM CEO Ginni Rometty IBM has had 16 quarters of shrinking revenue. CEO Ginni Rometty took over at the start of 2012, so that’s her entire reign. The year before she took over as CEO, in 2011, IBM had $106.92 billion in revenue and $15.86 billion in net income. It finished 2015 with $81.74 billion in revenue and $13.36 billion in net income. Rometty points out that she is shrinking the company “by design.” She’s been selling off low-margin or money-losing operations like its commodity Intel server business and its chip manufacturing business. And she’s been refreshing her enormous, aging workforce in major ways, too. IBM employs 380,000 people. IBM has been laying off thousands of workers a year in those shrinking areas while hiring thousands in growth areas of big data, cloud computing, security.…


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