Close
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Subscribe
Logo
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Subscribe
    Home Latest News
    • PC Hardware

    IBM Cutting 15,000 Jobs

    Written by

    eWEEK EDITORS
    Published August 14, 2002
    Share
    Facebook
    Twitter
    Linkedin

      eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

      IBM is in the process of eliminating 15,600 jobs, or about 5 percent of its work force, by the end of next month, the company disclosed in a government filing Tuesday.

      While the computer maker reportedly has been cutting workers for three months, IBM, of Armonk, N.Y., has refused to reveal how many jobs it planned to cut overall to compensate for declining sales blamed on a global economic slump.

      In May, IBM CEO Sam Palmisano fueled speculation that the layoffs would be the largest at the company since the early 90s when he called one analysts estimate of 20,000 job cuts as an “absolutely appropriate at a macro level.”

      IBMs Global Services division, which has become one of the companys most profitable divisions in recent years, suffered the greatest number of cuts, with other lay offs occurring in the Microelectronics division, and server and software business units.

      According to its SEC filing, IBM said the majority of the 14,213 jobs targeted for elimination by late September were tied to its services business. In another round of job cutting, the company said it eliminated 1,400 positions in Microelectronics division. Those workers were let go by June 30.

      IBMs announced job cuts come less than a month after the company disclosed plans to buy the services unit of PriceWaterhouse Coopers for $3.5 billion. As part of the agreement, IBM also will be acquiring about 30,000 workers from the consulting firm.

      At the end of 2001, IBM employed about 320,000 workers worldwide.

      IBM, which thrived last year as its high-tech competitors stumbled amid a U.S. recession and downturn in consumer sales, finally saw its fortunes crumble as corporate customers slashed their IT spending this year.

      In April, IBM issued an earnings warning that sales had fallen short of expectations. Later, the company posted a 32 percent drop in first quarter earnings from the previous year. Last month, the company took a $1.4 billion charge related to its ongoing layoffs and the shutting down of facilities.

      eWEEK EDITORS
      eWEEK EDITORS
      eWeek editors publish top thought leaders and leading experts in emerging technology across a wide variety of Enterprise B2B sectors. Our focus is providing actionable information for today’s technology decision makers.

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      Get the Free Newsletter!

      Subscribe to Daily Tech Insider for top news, trends & analysis

      MOST POPULAR ARTICLES

      Artificial Intelligence

      9 Best AI 3D Generators You Need...

      Sam Rinko - June 25, 2024 0
      AI 3D Generators are powerful tools for many different industries. Discover the best AI 3D Generators, and learn which is best for your specific use case.
      Read more
      Cloud

      RingCentral Expands Its Collaboration Platform

      Zeus Kerravala - November 22, 2023 0
      RingCentral adds AI-enabled contact center and hybrid event products to its suite of collaboration services.
      Read more
      Artificial Intelligence

      8 Best AI Data Analytics Software &...

      Aminu Abdullahi - January 18, 2024 0
      Learn the top AI data analytics software to use. Compare AI data analytics solutions & features to make the best choice for your business.
      Read more
      Latest News

      Zeus Kerravala on Networking: Multicloud, 5G, and...

      James Maguire - December 16, 2022 0
      I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
      Read more
      Video

      Datadog President Amit Agarwal on Trends in...

      James Maguire - November 11, 2022 0
      I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2024 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.