IBM to layoff 5,000 employees in US

New York, Mar 26: IBM (International Business Machines Corporation) is planning to layoff 5,000 employees in United States in a new round of job cuts. This move reflects IBM's decision to cut cost and shift work to low-cost regions like India and keep its profits intact amidst global recession.

Sources suggest that the job cuts will be mostly in IBM's global services business, which includes outsourcing and consulting services. In 2008 IBM had a total workforce of 3,98,455. The company which earns around two-third of its revenue from outside United States has a workforce of 113,000 in BRIC nations, that is Brazil, Russia, India and China.

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