IBM to Cut 25% of its Workforce?

IBM has denied a report by Forbes that it is planning to cut more than 100,000 jobs, as much 26% of its workforce, describing the idea as “totally ludicrous”. 

However, several IBM sites across the world have reported that staff are being made redundant, and IBM itself said during its Q4 earnings report (see Finance Results) that it plans to take a one-time “restructuring charge” of approximately $580 million. Analysts have calculated that this equates to “several thousand” job losses, considerably fewer than the 100,000 that Forbes claimed.