IBM Swings The Big Blue Axe

"According to a recent article on the Associated Press, IBM is said to have cut thousands of jobs, without the company officially announcing any specific and official details. The layoffs are reported to be part of the company's ongoing plan to save costs amid the current low global economy.

"IBM is said to have cut approximately 4000 jobs (according to some reports) over the past week. The company's sales, software and hardware divisions are reported to have suffered from personnel reductions. The Armonk, N.Y-based company claims that the job cuts are just part of its ongoing efforts to monitor costs. However, it won't release any specific numbers, as it doesn't have to reveal the number of jobs it is cutting, according to the Securities and Exchange Commission regulations, which requires companies to disclose only “material” events. Even so, layoffs are reported at several of the company's locations, including Tucson, Ariz., San Jose, Calif., Rochester, Minn., Research Triangle Park, N.C., East Fishkill, N.Y., Austin, Texas, and Burlington, Vt..."

Source: Softpedia...