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| | IBM Sells Hard Disk Drive Biz; Cuts Staff |
 | | Following the $2.05 billion agreement to sell the money-losing hard disk drive (HDD) operations to Hitachi (Quote, Chart), Armonk, N.Y.-based IBM (Quote, Chart) on Tuesday announced it would lay off 1,500 employees from its Microelectronics Division, a move aimed at increasing operational efficiencies. |
 | | IBM and Hitachi had earlier confirmed the fleshing out of an earlier agreement to merge the hard disk drive (HDD) operations into a new standalone joint venture. |
 | | Its goal is to expand into other areas such as storage systems, server, automotive, medical, defense and aerospace," the company said. |
| www.internetnews.com /infra/article.php/1183321 (717 words) |
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