6/7/2019, 5:49 AM (Source: TeleTrader)
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Chart for: International Business Machines Corporation

IBM to cut around 1,700 jobs - report

International Business Machines Corp. (IBM) will lay off a number of employees, the company confirmed to CNBC. While it did not specify the number of affected positions, a source familiar with the matter told the news outlet the decision will affect 0.5% of all employees or about 1,700 people.

"We are continuing to reposition our team to align with our focus on the high-value segments of the IT market, and we also continue to hire aggressively in critical new areas that deliver value for our clients and IBM," a spokesperson said in a statement.

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