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The former workers say they are just four of more than 20,000 IBM employees over age 40 who’ve been discharged during the past six years as the company secretly looked “to correct seniority ...
The company has been hit with almost seven straight years of shrinking revenue, and as a result the number of IBM employees "has fallen to its lowest point in six years, with 350,600 global ...
Under the plan, thousands of employees had to switch jobs or find themselves working for new managers. [7] Akers' vision was to autonomize each division into "Baby Blues" with the aim of spinning them off from "Big Blue". [8] Akers also presided over a major downsizing of IBM's workforce, cutting down from 407,000 to 360,000 by the end of 1991.
Layoffs and other tough management measures continued in the first two years of his tenure, but the company was saved, and business success has continued to grow steadily since then. [1] [2] From 1993 to Gerstner's retirement in 2002, IBM's market capitalization rose from $29 billion to $168 billion. [25]
A layoff [1] or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) [2] for business reasons, such as personnel management or downsizing (reducing the size of) an organization.
By Jennifer Booton IBM has initiated layoffs that have so far reached more than 1,600 positions, according to employee group Alliance@IBM. IBM confirmed the layoffs on Thursday but would not ...
IBM was founded in 1911 in Armonk, New York. [2] Over 260,000 employees work for IBM worldwide as of 2023. [3] The New York Times reported in 2017 that about a third of IBM employees (130,000 people) worked in India, more than any other country.