Bloat
No matter how many employees they will fire, I think they still have too many. I once tried to buy an IBM server. The employees I talked to on the phone were absolutely incompetent. The website listing their partners was horrendously out of date. Finally I asked to be connected with someone competent, for a change (I really did phrase it this way!). Surprisingly, I got that person. I learned who really sells the servers in my area. However their partner sold me... a Lenovo server after asking me "Do you really want to overpay?"