IBM stock crashed hard, its worst single-day drop in decades, and the fallout points to deeper problems for the company and its workers.

• IBM shares fell more than 25% in one day, the biggest drop since 1968.
• Former employees say they were laid off after being told to train their own replacements in India.
• The layoffs have left remaining staff with low morale and little loyalty to the company.
• This is bad for IBM workers and a warning sign for investors about how the company is run.

Outlook: The morale and trust problems could weigh on IBM's performance and stock for a while.