IBM expects job cuts to total 14,500

20 Jul, 2005

US computer giant IBM's job reductions under a major reorganisation announced this year are expected to total 14,500, a company official said Tuesday. The world's biggest computer and high-tech firm had previously said it was cutting 13,000 positions.
The company said 70 percent of the cuts would be in Europe, adding a bit more detail to its May announcement.
"We will eliminate approximately 14,500 positions, in addition to the normal level of workforce reductions," chief financial officer Mark Loughridge said.
"About 70 percent will be in Europe. This is slightly higher than the range we provided in early May, due to good acceptance of the voluntary programs in Europe. Separations started at the end of June, and as of July 15, weve had about 8,000 people leave the business."

Read Comments