IBM has confirmed that it is to cut 15,600 jobs or 5% of its global workforce in a filing with the SEC. The company blames the job cuts on a recent decline in corporate spending on technology services. A spokeswoman declared that IBM hopes that that job losses will drive productivity and efficiency throughout the company.
IBM is to cut 14,213 jobs from its Global Services business unit. The company will also cut 1,400 jobs in its microelectronics division, while a smaller number of job losses will also occur in IBM’s servers and software units.