IBM to Layoff 13,000

Posted on May 6, 2005

IBM plans to lay off 13,000 employees worldwide according to a BBC news story. The BBC reports that most of the layoffs will occur in Europe:
IBM's chief financial officer Mark Loughridge said the west European market was performing poorly so jobs would be lost in the UK, Germany, France and Italy.

He gave no figures on how many jobs would be lost in each country.

Answering questions after a conference call with analysts, he said the job cuts were new, and not "bundled" together parts of an ongoing restructuring.