IBM ships jobs to India

It says a lot about the state of the economy when one of the most profitable companies in America cuts jobs in the US and relocates the positions to India.

International Business Machines Corp (IBM) appears to be taking that route. Despite reporting a 12 percent gain in earnings in the fourth quarter, Big Blue plans to reduce its American workforce as it adds more positions in India. So if you're an engineer looking for work, don't let IBM's enviable profits fool you: they're not hiring, at least not in the USA.