IBM cuts 15,000 jobs

After weeks of speculation, Big Blue finally announced this week that it will axe 15,600 jobs globally, with more than 90% of these casualties coming from the company’s Global Services group, the rest from the software and server businesses. The total figure represents around 5% of IBM’s global workforce. In a press release, the company said that the cuts were due to “a recent decline in corporate spending on technology services.” By the end of September, when most of the redundancies are expected to take effect, IBM’s workforce will have declined from 320,000 to around 305,000.