1/10
International Business Machines (IBM), the world's largest computer services provider, began cutting US jobs on Thursday as part of a global restructuring plan announced in April, a person familiar with the move said.
In This Pic : IBM starts job cuts
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2/10
The reduction targets employees with a range of seniority , from rank-and-file staff to executives, said the person, who asked not to be named because the information is private.
In This Pic : IBM starts job cuts
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3/10
Some US workers began to receive notifications of the cuts last night, according to Lee Conrad, a coordinator for Alliance@IBM, an employee group. The restructuring will cost $1 billion worldwide, including severance expenses.
In This Pic : IBM starts job cuts
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4/10
IBM announced the jobcutting effort after releasing disappointing first-quarter results in April.
In This Pic : IBM starts job cuts
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5/10
The Armonk, New York-based company posted profit of $3 a share in the period, missing the $3.05 predicted by analysts -- the first earnings shortfall since 2005, according to data compiled by Bloomberg.
In This Pic : IBM starts job cuts
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