IBM layoffs begin - New York News

IBM layoffs begin

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IBM has initiated layoffs that have so far reached more than 1,600, according to employee group Alliance@IBM.

IBM could not immediately be reached for a comment, however dozens of anonymous posts on the site claim layoffs across a wide variety of regions and departments.

The cuts include at least 222 people in marketing for the software business and 165 in semiconductor research and development, as well as more than 100 in each of these: STG Storage Systems Development, GBS AMS IBM Global Account, the Software Group Information Management and the Software group Industry Solutions.

In total, 1,634 cuts have been reported, according to a posting on Alliance@IBM, which is affiliated with the Communications Workers of America union. The group says it will update the list Thursday night.

“I work in STG in 3D Edram Development and was informed of permanent layoff today,” one person wrote on the site Wednesday.

“Atlanta POS Group hit hard. Storage and other groups hit too. Typical package,” another person said.

“I am one of 83 Marketing & Communications employees being permanently laid off today. Separation date is 7/12. I work from home,” another said.

Employees had been waiting for layoffs to begin ever since the Armonk, N.Y.-based computer company said it would increase the pace of job cuts this quarter following a dismal quarterly earnings report in April where sales fell sharply below expectations.

IBM at the time did not say how many people would be let go, but IBM Chief Financial Officer Mark Loughridge said the tech giant expected to report close to $1 billion of accounting charges this year as it axed its workforce, with more reductions aimed at departments outside the U.S.

Alliance’s server was experiencing slowness on Wednesday due to the influx of postings from IBM employees.

Shares of IBM were trading flat on Thursday, and remain up about 4% on the year.

Read more: Fox Business

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