The current economic market is more bad than worse that is forcing not only small organizations but also the giant organizations to cut out the work force. IBM, one of the leading groups, is about to cut 5000 jobs in USA.
The job cuts will account for over 4 percent of IBM’s U.S. workforce, which totaled around 115,000 at the end of 2008. An International Business Machines Corp spokesman declined to comment. The company, which had a total workforce of 398,455 as of end 2008, has not disclosed how many jobs it has cut so far this year, but has said it was making “structural changes†to reduce spending and improve productivity.
IBM, which now earns around two-thirds of its revenue from outside the United States, has been expanding its workforce in emerging markets like India and China.At the end of 2008, employment in the BRIC countries that includes Brazil, Russia, India and China with a total of around 113,000.
I hope this does not split over to South Africa. It is unlikely since IBM seen SA as a Growth Market and is investing lots on money into this region.
Technorati Tags: layoffs, ibm, growth market, financial crisis
