IBM Layoffs Are Underway

140 workers laid off in Vermont

   

IBM Layoffs Are Underway

International Business Machines (IBM) started to layoff workers in the United States on Thursday morning.

IBM IBM Layoffs Are UnderwayThe IBM layoffs come as no surprise as the company announced plans to take a “$1 billion workforce rebalancing charge” in the first quarter of the year. The layoffs in the United States are coming a couple of weeks after layoffs that took place at IMB’s overseas office, reports News & Observer.

The layoffs could result a loss of work for around 3,000 employees. This estimate comes from the fact that IBM layoffs in 2013 included that many workers when the company announced a similar workforce-rebalancing plan. Areas that have reported layoffs of IBM workers include Rochester, Minn., Burlington, Vt. and Dubuque, Ia., News & Observer notes.

Vermont Gov.Peter Shumlin says that around 140 employees in Essex Junction have also been hit by the IBM layoffs. He says this is about a third of what IBM laid off last year.

Unaffected by the IBM layoffs are 3,100 employees that hold high-tech jobs with the company in New York. IBM also plans to add 500 more high-tech jobs to Buffalo, reports Christian Science Monitor.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/02/ibm-layoffs-ibm-stock/.

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