Report: IBM going ahead with more U.S. job cuts today

Summary:Unfortunately for Big Blue and its employees, this just marks yet another round of layoffs -- one of several in the last few years.

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IBM is said to be handing out pink slips to a large chunk of its U.S. employee base on Wednesday, according to Bloomberg.

The news agency specified that the cuts will target all levels of seniority from entry-level to the executive suite.

See also: EMC and VMware to cut 1,800 posts worldwide | AMD to cut 15 percent of workforce, sees weak Q4 ahead

Unfortunately for Big Blue and its employees, this just marks yet another round of layoffs -- one of several in the last few years .

The job cuts come as part of a global restructuring plan that was announced back in April.

In France, for example, IBM is planning to eliminate 1,226 jobs in the region within two years.

At that time, IBM also saw its share price suffer its biggest one-day drop in eight years following a disappointing first quarter .

Bloomberg cited analyst forecasts that the Armonk, N.Y.-headquartered corporation will be laying off anywhere between 6,000 and 8,000 employees worldwide -- close to two percent of its total workforce.

The goal is to save approximate $1 billion in expenditures for the company.

Topics: IT Employment, IBM, Tech Industry

About

Rachel King is a staff writer for CBS Interactive based in San Francisco, covering business and enterprise technology for ZDNet, CNET and SmartPlanet. She has previously worked for The Business Insider, FastCompany.com, CNN's San Francisco bureau and the U.S. Department of State. Rachel has also written for MainStreet.com, Irish Americ... Full Bio

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