IBM division including Vt. plant sees revenue decline

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A new financial report from IBM does not paint a bright picture for the Vermont plant.

The company’s Systems and Technology unit, which includes its microelectronics plant in Essex Junction, was the only one of the company’s five main divisions reporting a drop in revenues for 2008.

The main function of the company’s Vermont plant is original equipment manufacturing, and that unit’s performance was even worse, seeing its revenues decline 34 percent in the fourth quarter of 2008 from the same period a year earlier.

Overall, IBM reported a five percent increase in revenues for 2008.

The Essex Junction plant trimmed about 300 workers from its payroll last year, and more cuts are seen as likely.

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