Report: IBM cutting over 1,000 jobs

IBM, one of the world's largest companies, is letting go of more than 1,000 employees across North America.

IBM is letting go of more than 1,000 workers across the United States and Canada on Tuesday, according to Bloomberg.

Another report from Information Week, also published on Tuesday, suggests the number of cuts is closer to 800. However, IBM has refrained from announcing an official number.

Most of the job cuts are said to have been within the United States -- especially the Global Technology Services outsourcing unit -- amidst IBM's reorganization.

On Monday, IBM was said to have cut more than 250 jobs across the U.S. already.

IBM spokesman Doug Shelton informed Bloomberg that the layoffs will enable IBM to "remain competitive and relevant in an industry that is constantly changing."

Computerworld reports that even more layoffs this week remains a possibility.

Interestingly, the depressing news comes just after a bright note for IBM, which was just hailed by Gartner as the leader in the server market share race as of the end of the fourth quarter of 2011.

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