Wow, that's quite the claim. If it wasn't from Robert Cringely then, I'd probably dismiss it out of hand.

Having said that, 3 things would make me nervous at IBM.

1) I've got alot of respect for Cringely, he's got a track record of being right about these things

2) Annual revenue fell to $93bn (£62bn) last year from $107bn That's a huge drop off, and they've missed on their last few quarters, which means' they've been surprised at the loses.

3) for the past 5 years IBM has been a company that's done more financial engineering with its numbers than any other tech company I can think of. They've exhausted the financial engineering tricks they can do to boost share prices, and when your out of tricks you fall back to the oldest trick in the books.....layoffs.

HN discussion of original article: https://news.ycombinator.com/item?id=8944637