Layoffs, Stimulus At IBM : Planet Money Company posts a profit, talks economic recovery as staff reports jobs being cut.
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Layoffs, Stimulus At IBM

Workers at IBM say the technology company launched a round of layoffs Wednesday. The company has so far been mum, but you can find reports on blogs and on a union website.

IBM posted news Tuesday that its fourth-quarter 2008 profits were up 12 percent over the same period in 2007. If you're calculating in shares, analysts say that's $9.20 per.

An IBM worker and listener wrote in to point out that the company stands to gain from President Barack Obama's stimulus package, and that CEO Sam Palmisano advised the Obama transition team.

UPDATE: The Wall Street Journal reports.