IBM Layoffs Are Underway

by William White | February 27, 2014 11:08 am

IBM Layoffs Are Underway

International Business Machines (IBM[1]) started to layoff workers[2] in the United States on Thursday morning.

IBM IBM Layoffs Are Underway[3]The 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[4] 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[5].

More Layoffs in the News

Endnotes:
  1. IBM: http://studio-5.financialcontent.com/investplace/quote?Symbol=IBM
  2. layoff workers: http://www.newsobserver.com/2014/02/27/3658700/ibm-layoffs-hit-us-workforce.html
  3. [Image]: http://investorplace.com/wp-content/uploads/2011/07/IBM.jpg
  4. 140 employees: http://www.sfgate.com/news/article/Vt-gov-says-IBM-layoffs-a-third-of-last-round-5273088.php
  5. Christian Science Monitor: http://www.csmonitor.com/Business/Latest-News-Wires/2014/0227/IBM-layoffs-expected.-Instead-IBM-adds-500-positions.-video
  6. Target Layoffs: Where the Job Cuts Will Be: http://investorplace.com/2014/01/target-layoffs-job-cuts-will/
  7. BKS Clarifies Rumors About Barnes & Noble Nook Layoffs: https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&ved=0CEoQFjAC&url=http%3A%2F%2Finvestorplace.com%2F2014%2F02%2Fbks-clarifies-rumors-barnes-noble-nook-layoffs%2F&ei=2WEPU5ShMcbvoAT-o4BQ&usg=AFQjCNF5-Bpo5Xax1wwtJ8Qm8QWxhxpRTw&sig2=w9dJzGPAxBGrc_HgGmQKsw&bvm=bv.61965928,d.cGU&cad=rja
  8. RBS: Up to 30,000 Royal Bank of Scotland Layoffs Planned: http://investorplace.com/2014/02/rbs-stock-royal-bank-of-scotland/#.Uw9iEeNdWSo
  9. Electronic Arts Layoffs Hit Salt Lake Studio: http://investorplace.com/2014/01/electronic-arts-layoffs-ea-stock/

Source URL: http://investorplace.com/2014/02/ibm-layoffs-ibm-stock/
Short URL: http://invstplc.com/NzwnDm