Red Hat cutting hundreds of jobs, CEO says in letter to employees
Welcome to life under IBM.  They’re in the business of a financially engineered shrinkage.  This is what happens when innovation and growth stops.<p>What you see from IBM:<p>- Cut expensive (old) employees.<p>- Market everything as the New thing. (Watson)<p>- Audit your customers. Settle by forcing them to buy the New thing even if they don’t need it.<p>- Current and former execs go on book tours.<p>- Buy back shares.<p>This is all rational when you can’t  put capital to good use anymore. It just sucks to be a customer or employee of them.