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IBM Layoffs Are Underway

140 workers laid off in Vermont


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

IBM-layoffs-ibm-stockThe 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.

More Layoffs in the News

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

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