IBM starts job cuts; most lay-offs outside US
IBM, the world's largest computer services provider, has initiated a global restructuring plan by laying-off almost 2,800 employees in North America so far and more job cuts are in offing in other nations like India. Earlier this year, International Business Machines CFO Mark Loughridge in an investor call had said the US-based firm will embark on a "workforce rebalancing", or job cuts, that will cost about USD 1 billion and the bulk of which would be outside the US. When asked about the total number of lay-offs that will happen, employee group Alliance@IBM international coordinator Lee Conrad said so far 2,200 jobs have been cut in the US and Canada. In April this year, in an investor meet IBM CFO Mark Loughridge had said: "Last year, we had about USD 800 million workplace rebalancing charges spread across the year and this year we expect the workforce rebalancing charges to be closer to a billion and concentrated in the second quarter.
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