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(Bloomberg) -- International Business Machines Corp. is laying off about 2,000 employees this week, according to news reports, as the company reshapes its business.
The move amounts to less than 1% of if its workforce, which totaled 350,600 at the end of last year.
IBM confirmed that a “small percentage of employees” who are not performing “at a competitive level” would be leaving the company. “We are continuing to re-position our team to align with our focus on the high value segments of the IT market – while aggressively hiring in critical new areas that deliver value for our clients and IBM," the company said in a statement.
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The Wall Street Journal and CNBC earlier reported on the job cuts.
In 2016, the Armonk, New York-based company, started to cut jobs in the U.S. as part of a strategy to shift its workforce toward cloud computing and artificial intelligence operations. It made additional reductions in 2017.
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IBM has lagged behind the overall technology sector for years, with its 1% revenue growth in 2018 breaking a six-year run of declining sales. In the past, the tech giant has laid off staff in slower businesses in order to beef up resources in new areas. IBM has about 25,000 open job positions worldwide.
Ford is cutting 7,000 white-collar jobs
DETROIT — Ford is cutting about 7,000 white-collar jobs, which would make up 10 per cent of its global workforce. The company has said it was undertaking a major restructuring, and on Monday said that it will have trimmed thousands of jobs by August. The company said that the plan will save about $600 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager. In the U.S. about 2,300 jobs will be cut through buyouts and layoffs. About 1,500 already have happened. About 500 workers will be let go this week.
To contact the reporter on this story: Olivia Carville in New York at [email protected]
To contact the editors responsible for this story: Jillian Ward at [email protected], Molly Schuetz, Andrew Pollack
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Unifor local says Ford to cut 185 jobs in Oakville, Ont. plant on slowing sales.
OAKVILLE, Ont. — The head of the local union at Ford Motor Co.'s Oakville, Ont. plant says the company will cut 185 jobs in September with possibly more to come next January. Dave Thomas, president of Unifor Local 707, says in a message to members that the company is easing production at the plant due to costs and slowing sales. He says the shift restrictions coming in August, which includes cutting five units per hour from the production line among other schedule changes, will lead to the 185 permanent job cuts in September.
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