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IBM / to cut 15,000 jobs, starting in India

Technology giant IBM has started a restructuring process, which would see as many as 15,000 jobs being cut globally, including India, Brazil and the European region.

“The estimate of jobs cut globally is 15,000,” international coordinator at the Alliance@IBM (official IBM employees union) Lee Conrad told PTI.

Though the exact number of job cuts in each of the geographies is not clear, the impact could be huge in India as IBM has over one lakh employees in the country.

According to sources, over 50 employees at IBM’s Systems Technology Group (STG) in Bangalore were handed pink slips on February 12 as part of its global ‘Resource Action’ or restructuring programme.

Last month, the US-based firm had said its top executives will forego their bonuses and the company will initiate a $1-billion restructuring programme in the first quarter of 2014 as it grapples with declining sales of servers and storage systems.

Chosen excerpts by Job Market Monitor. Read the whole story at IBM to cut 15,000 jobs globally, lay-offs start from Bangalore: report – NDTVProfit.com.

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