Biggest-Ever Corporate Layoffs at IBM – To Cut more than 111,000 Jobs

IBM is set to announce the largest round of corporate layoffs in history, culling 26 percent of its worldwide staff, or more than 111,000 people, beginning as early as this week, according to a report.

The cuts are part of a reorganisation plan called “Project Chrome” that has been rumoured for several weeks, and which was triggered by a disappointing earnings announcement last week, according to Forbes.

via Forbes: IBM ‘To Cut 111,000 Jobs’ In Biggest-Ever Round Of Corporate Layoffs.