1 00:00:01,190 --> 00:00:04,610 covering the weeks tops exploits like 2 00:00:04,610 --> 00:00:04,620 covering the weeks tops exploits like 3 00:00:04,620 --> 00:00:07,099 covering the weeks tops exploits like Linux bias both Hewlett Packard 4 00:00:07,099 --> 00:00:07,109 Linux bias both Hewlett Packard 5 00:00:07,109 --> 00:00:08,870 Linux bias both Hewlett Packard Enterprise and IBM have announced 6 00:00:08,870 --> 00:00:08,880 Enterprise and IBM have announced 7 00:00:08,880 --> 00:00:10,520 Enterprise and IBM have announced significant cost-cutting measures 8 00:00:10,520 --> 00:00:10,530 significant cost-cutting measures 9 00:00:10,530 --> 00:00:12,830 significant cost-cutting measures including pay cuts and significant job 10 00:00:12,830 --> 00:00:12,840 including pay cuts and significant job 11 00:00:12,840 --> 00:00:15,650 including pay cuts and significant job losses the Cova 19 crisis is hitting 12 00:00:15,650 --> 00:00:15,660 losses the Cova 19 crisis is hitting 13 00:00:15,660 --> 00:00:18,140 losses the Cova 19 crisis is hitting almost every market sector hard and now 14 00:00:18,140 --> 00:00:18,150 almost every market sector hard and now 15 00:00:18,150 --> 00:00:21,140 almost every market sector hard and now the dominoes are starting to fall as 16 00:00:21,140 --> 00:00:21,150 the dominoes are starting to fall as 17 00:00:21,150 --> 00:00:23,150 the dominoes are starting to fall as other small medium and large businesses 18 00:00:23,150 --> 00:00:23,160 other small medium and large businesses 19 00:00:23,160 --> 00:00:25,130 other small medium and large businesses reduce operations or shudder for good 20 00:00:25,130 --> 00:00:25,140 reduce operations or shudder for good 21 00:00:25,140 --> 00:00:27,410 reduce operations or shudder for good the tech firms that rely on enterprise 22 00:00:27,410 --> 00:00:27,420 the tech firms that rely on enterprise 23 00:00:27,420 --> 00:00:29,060 the tech firms that rely on enterprise clients are themselves taking heavy 24 00:00:29,060 --> 00:00:29,070 clients are themselves taking heavy 25 00:00:29,070 --> 00:00:32,089 clients are themselves taking heavy losses and laying off personnel IBM 26 00:00:32,089 --> 00:00:32,099 losses and laying off personnel IBM 27 00:00:32,099 --> 00:00:35,240 losses and laying off personnel IBM announced his layoffs late Thursday in a 28 00:00:35,240 --> 00:00:35,250 announced his layoffs late Thursday in a 29 00:00:35,250 --> 00:00:37,069 announced his layoffs late Thursday in a statement the company said the highly 30 00:00:37,069 --> 00:00:37,079 statement the company said the highly 31 00:00:37,079 --> 00:00:38,540 statement the company said the highly competitive marketplace requires 32 00:00:38,540 --> 00:00:38,550 competitive marketplace requires 33 00:00:38,550 --> 00:00:40,490 competitive marketplace requires flexibility to constantly remix 34 00:00:40,490 --> 00:00:40,500 flexibility to constantly remix 35 00:00:40,500 --> 00:00:42,860 flexibility to constantly remix high-value skills which in this case 36 00:00:42,860 --> 00:00:42,870 high-value skills which in this case 37 00:00:42,870 --> 00:00:44,690 high-value skills which in this case means deciding you no longer place a 38 00:00:44,690 --> 00:00:44,700 means deciding you no longer place a 39 00:00:44,700 --> 00:00:47,420 means deciding you no longer place a high value on the skills a significant 40 00:00:47,420 --> 00:00:47,430 high value on the skills a significant 41 00:00:47,430 --> 00:00:49,279 high value on the skills a significant number of employees bring to the 42 00:00:49,279 --> 00:00:49,289 number of employees bring to the 43 00:00:49,289 --> 00:00:52,310 number of employees bring to the socially distance table IBM like many 44 00:00:52,310 --> 00:00:52,320 socially distance table IBM like many 45 00:00:52,320 --> 00:00:54,410 socially distance table IBM like many firms now facing cuts and layoffs was 46 00:00:54,410 --> 00:00:54,420 firms now facing cuts and layoffs was 47 00:00:54,420 --> 00:00:56,389 firms now facing cuts and layoffs was not in the best of financial situations 48 00:00:56,389 --> 00:00:56,399 not in the best of financial situations 49 00:00:56,399 --> 00:00:59,689 not in the best of financial situations before Cova 19 hit the company's CEO 50 00:00:59,689 --> 00:00:59,699 before Cova 19 hit the company's CEO 51 00:00:59,699 --> 00:01:02,209 before Cova 19 hit the company's CEO Arvind Krishna has been with the company 52 00:01:02,209 --> 00:01:02,219 Arvind Krishna has been with the company 53 00:01:02,219 --> 00:01:04,369 Arvind Krishna has been with the company for decades but only stepped into the 54 00:01:04,369 --> 00:01:04,379 for decades but only stepped into the 55 00:01:04,379 --> 00:01:07,250 for decades but only stepped into the top seed in April saying at the time he 56 00:01:07,250 --> 00:01:07,260 top seed in April saying at the time he 57 00:01:07,260 --> 00:01:08,960 top seed in April saying at the time he was focused on building up the parts of 58 00:01:08,960 --> 00:01:08,970 was focused on building up the parts of 59 00:01:08,970 --> 00:01:10,850 was focused on building up the parts of the company that support cloud computing 60 00:01:10,850 --> 00:01:10,860 the company that support cloud computing 61 00:01:10,860 --> 00:01:13,160 the company that support cloud computing and artificial intelligence and was 62 00:01:13,160 --> 00:01:13,170 and artificial intelligence and was 63 00:01:13,170 --> 00:01:16,039 and artificial intelligence and was willing to move away from the rest IVM 64 00:01:16,039 --> 00:01:16,049 willing to move away from the rest IVM 65 00:01:16,049 --> 00:01:18,170 willing to move away from the rest IVM did not specify how many positions were 66 00:01:18,170 --> 00:01:18,180 did not specify how many positions were 67 00:01:18,180 --> 00:01:19,429 did not specify how many positions were being cut but both The Wall Street 68 00:01:19,429 --> 00:01:19,439 being cut but both The Wall Street 69 00:01:19,439 --> 00:01:22,060 being cut but both The Wall Street Journal and Bloomberg News report 70 00:01:22,060 --> 00:01:22,070 Journal and Bloomberg News report 71 00:01:22,070 --> 00:01:24,859 Journal and Bloomberg News report thousands of employees were affected in 72 00:01:24,859 --> 00:01:24,869 thousands of employees were affected in 73 00:01:24,869 --> 00:01:27,859 thousands of employees were affected in five states California New York North 74 00:01:27,859 --> 00:01:27,869 five states California New York North 75 00:01:27,869 --> 00:01:31,370 five states California New York North Carolina Missouri and Pennsylvania IBM 76 00:01:31,370 --> 00:01:31,380 Carolina Missouri and Pennsylvania IBM 77 00:01:31,380 --> 00:01:32,960 Carolina Missouri and Pennsylvania IBM said in a statement it would offer 78 00:01:32,960 --> 00:01:32,970 said in a statement it would offer 79 00:01:32,970 --> 00:01:35,149 said in a statement it would offer subsidized medical coverage to affected 80 00:01:35,149 --> 00:01:35,159 subsidized medical coverage to affected 81 00:01:35,159 --> 00:01:38,690 subsidized medical coverage to affected employees for the next 12 months Hewlett 82 00:01:38,690 --> 00:01:38,700 employees for the next 12 months Hewlett 83 00:01:38,700 --> 00:01:40,580 employees for the next 12 months Hewlett Packard Enterprise also announced its 84 00:01:40,580 --> 00:01:40,590 Packard Enterprise also announced its 85 00:01:40,590 --> 00:01:42,530 Packard Enterprise also announced its cost-cutting plans on Thursday as part 86 00:01:42,530 --> 00:01:42,540 cost-cutting plans on Thursday as part 87 00:01:42,540 --> 00:01:44,420 cost-cutting plans on Thursday as part of its more recent quarterly earnings 88 00:01:44,420 --> 00:01:44,430 of its more recent quarterly earnings 89 00:01:44,430 --> 00:01:46,639 of its more recent quarterly earnings report the company will cut some 90 00:01:46,639 --> 00:01:46,649 report the company will cut some 91 00:01:46,649 --> 00:01:48,200 report the company will cut some salaries through at least the end of 92 00:01:48,200 --> 00:01:48,210 salaries through at least the end of 93 00:01:48,210 --> 00:01:50,600 salaries through at least the end of October with executives seeing pay cuts 94 00:01:50,600 --> 00:01:50,610 October with executives seeing pay cuts 95 00:01:50,610 --> 00:01:53,870 October with executives seeing pay cuts of between 20 to 25 percent the company 96 00:01:53,870 --> 00:01:53,880 of between 20 to 25 percent the company 97 00:01:53,880 --> 00:01:55,550 of between 20 to 25 percent the company like younger tech brethren such as 98 00:01:55,550 --> 00:01:55,560 like younger tech brethren such as 99 00:01:55,560 --> 00:01:57,590 like younger tech brethren such as Facebook and Twitter says it will 100 00:01:57,590 --> 00:01:57,600 Facebook and Twitter says it will 101 00:01:57,600 --> 00:01:59,690 Facebook and Twitter says it will further save money by embracing remote 102 00:01:59,690 --> 00:01:59,700 further save money by embracing remote 103 00:01:59,700 --> 00:02:00,800 further save money by embracing remote work in the longer 104 00:02:00,800 --> 00:02:00,810 work in the longer 105 00:02:00,810 --> 00:02:05,420 work in the longer term allowing it to shutter some offices