IBM to Trim Up to 3% of Work Force
IBM Corp., the world’s biggest computer company, plans to eliminate as many as 9,600 jobs, or 3% of its work force, as sales slump, a source close to the company said.
The reduction will be made by the end of June, the person said, without indicating where they will occur. The IBM work force has swelled to almost 320,000 from 220,000 in 1994.
IBM’s sales have missed forecasts by $1 billion in each of the last two quarters.
IBM spokeswoman Carol Makovich declined to comment.
The Armonk, N.Y.-based company’s shares fell 25 cents to $79.68 on the NYSE.
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