IBM Layoffs Are Underway
by William White | February 27, 2014 11:08 am
International Business Machines (IBM) started to layoff workers in the United States on Thursday morning.
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 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
- Target Layoffs: Where the Job Cuts Will Be
- BKS Clarifies Rumors About Barnes & Noble Nook Layoffs
- RBS: Up to 30,000 Royal Bank of Scotland Layoffs Planned
- Electronic Arts Layoffs Hit Salt Lake Studio
- IBM: http://studio-5.financialcontent.com/investplace/quote?Symbol=IBM
- layoff workers: http://www.newsobserver.com/2014/02/27/3658700/ibm-layoffs-hit-us-workforce.html
- [Image]: https://investorplace.com/wp-content/uploads/2011/07/IBM.jpg
- 140 employees: http://www.sfgate.com/news/article/Vt-gov-says-IBM-layoffs-a-third-of-last-round-5273088.php
- Christian Science Monitor: http://www.csmonitor.com/Business/Latest-News-Wires/2014/0227/IBM-layoffs-expected.-Instead-IBM-adds-500-positions.-video
- Target Layoffs: Where the Job Cuts Will Be: https://investorplace.com/2014/01/target-layoffs-job-cuts-will/
- 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
- RBS: Up to 30,000 Royal Bank of Scotland Layoffs Planned: https://investorplace.com/2014/02/rbs-stock-royal-bank-of-scotland/#.Uw9iEeNdWSo
- Electronic Arts Layoffs Hit Salt Lake Studio: https://investorplace.com/2014/01/electronic-arts-layoffs-ea-stock/
Source URL: https://investorplace.com/2014/02/ibm-layoffs-ibm-stock/
Short URL: http://invstplc.com/NzwnDm
Copyright ©2017 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.