With IBM investing billions of dollars in New York
With IBM investing billions of dollars in New York and with the pending sale of facilities to GlobalFoundries, the company has no plans to downsize and lay off workers in New York, a source close to IBM and the state told Gannett's Albany Bureau.
There is growing speculation that IBM is due for another round of cuts amid poor performance in its fourth-quarter earnings released last Tuesday.
Yet IBM's situation in New York is unique. It's heavily invested in research in the state, and IBM vowed to keep its jobs in New York in a $1.5 billion sale last year to GlobalFoundries of its semiconductor manufacturing facilities in East Fishkill, Dutchess County, and in Vermont.
A GlobalFoundries spokesman Monday confirmed that the company has offered jobs to all the IBM workers that are part of the sale, which is expected to close in the coming months. It's unclear how many offers went out.
"We generally do not comment on rumor or speculation, and it really would not be appropriate for us to comment on IBM's layoff rumors," said GlobalFoundries spokesman Travis Bullard. "We can say, however, that we have made employment offers to all of the current IBM employees who are covered under the terms of our acquisition deal for the microelectronics division."
There was no immediate comment from IBM, which is based in Armonk, Westchester County.
When IBM announced its sale to GlobalFoundries in October, it emphasized the benefit the deal would have in New York. GlobalFoundries already has a massive chip manufacturing plan in Malta, Saratoga County.