IBM’s Rometty defends bumpy financial ride as company shifts strategy

IBM CEO Ginni Rometty is moving quickly to quell concerns about the company’s sinking earnings and defend a deal to pay more than a billion dollars to hand off its money-losing microelectronics business to GlobalFoundries.

In a conference call held Monday after IBM issued its earnings report, Rometty firmly asserted that the dip in earnings as well as the chip-business deal were necessary for the company to make bold moves to stay current in a tumultuous time of change in the IT industry.

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