IBM to slash up to 13,000 jobs

5 May 2005 – Armonk (NY): In a widely anticipated move, IBM is restructuring its operations and cutting between 10,000 and 13,000 jobs, mostly in Europe.

As a result of the cuts, which will affect between 3 and 4 per cent of IBM’s 329,000-strong work force, the company said it expects to incur a Q2 charge of between $1.3 billion and $1.7 billion.

In a release, it added: "As a result, IBM will create a number of smaller, more flexible local operating units in Europe to increase direct client contact."