theodp writes "As his company was striving to hide the bodies of its laid-off North American workers, IBM CEO Sam Palmisano stood beside President Barack Obama and waxed patriotic: 'We need to reignite growth in our country,' Palmisano said. 'We need to undertake projects that actually will create jobs.' While Sam positions IBM to get a slice of the $825 billion stimulus pie, Big Blue is quietly cutting thousands of jobs and refusing to release the numbers or locations, arguing that SEC disclosure rules don't apply since the US job cuts are immaterial in its big global picture. The layoffs included hundreds in East Fishkill, coming early in the year after NY taxpayers paid IBM $45 million not to cut additional jobs in East Fishkill in 2008. Some are questioning whether IBM incentives are worth the cost."