IBM to cut thousands of jobs in UK

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Earnings at computer companies have been on a roller-coaster ride
Computer giant IBM will cut 13,000 jobs worldwide, or about 4% of its total workforce, as part of a restructuring aimed at boosting profits.
Most of the job losses will be at IBM's European operations as the firm looks to focus on high-growth markets.

scource/full story: news.bbc.co.uk/1/hi/business/4515101.stm

I find that a bit odd since European markets bring in the most profits for software / hardware companies.

What exactly is considered a "high growth market" anyway?

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I think only financial whiz kids will understand that They certainly sell lots of equipments in UK but then, its easier to make people redundant in UK compared with other European companies so UK staff are usually a soft touch for multinationals when they are cutting jobs