It's a massive challenge for the technology companies, just asserting its for this or that reason, looking for easy finger pointing to associate blame for missed opportunity is just naive.
We have to understand that all the former hardware behemoths are suffering from the innovators dilemma. As much as HP, IBM, Dell, Oracle et al. have been broadening their products and services, changing their business models, with differing degrees of success these types of actions are inevitable. After all, are you willing to wait for your next big project, while they train up consultants, architects, designers, support for 6-months as they are using existing employees?
Unless y'all are prepared to pay the price for traditional hardware and software, and stop migrating to the "cloud", these things are inevitable and you are part of the problem. Thats not blame, it's fact, after all your business is also focused on EPS or expense/revenue ratio too.
IBM made a significant shift to being a software and services company almost 20-years ago, none of this should be unexpected. Shifting workloads, skills, people is hard enough much less in an economy where there are massive geographic shifts as whole continents stabilize, and others shift in terms of how they consume and use technology, as well as their skills and employment practices.
Even simple things like the continued shift to home working has potential huge impact on employment trends, locations and skills.
If IBM, HP, Dell, Oracle where cities, governments etc. you might be right to hold them to a different standard. But I don't see anyone voting Governments out because they are paying too little tax?
It's not simply about focusing on earnings per share. While there is an argument that for the whole western industrial economy that the CEO, Executive pay has got out of proportion, it's important to remember that at least IBM, HP, Oracle are still public companies. Unless you've been paying very close intention, their EPS and share price have more than likely a direct impact on you, even if you work for a competitor. They are both direct and indirect investment funds for pension funds, Government/Health/Insurance investments etc. If they all take a dive, you can be hurt anyway, even if you don't work at those companies.
So lets stop pretending you are surprised this is happening. Understand that everyone in the "industry" from customers to design, R&D and the Execs are responsible for finding a ways to find new opportunities and help and support good employees both those where we are working, and also for those that have been, and are being let go. It's also going to come over time to facebook, google et al eventually they won't be able to buy and innovate their way into markets forever in just the same way the more traditional companies can now.
And yes, I'm an Executive at Dell.