IBM is proceeding with layoffs of up to 13,000 workers in Europe and the United States while it plans to increase hiring in India this year by more than 14,000 workers according to a document dated in April and labeled confidential. It's a move that the company sees as shifting IBM's global status from a classic multinational corporation with separate businesses in different countries to a truly worldwide company that can send work to any of its own most efficient locations.
See "Cutting Here, but Hiring Over There", Steve Lohr, The New York Times, June 23, 2005