facebook
twitter
rss
account
search
search
 

Report: IBM may cut 500 jobs in China

June 27, 2013 at 6:59 AM   |   Comments

BEIJING, June 27 (UPI) -- U.S. computer service giant International Business Machines Corp. may cut about 500 jobs on mainland China, China Daily reported Thursday.

The newspaper said an e-mail reply it received from IBM's China office said some level of "workforce remix is a constant requirement for our business." The report said while IBM did not give any specify figures, a local Chinese news site suggested there could be at least 500 staff cuts on the mainland.

The Armonk, N.Y., company had lower-than-expected results in the first quarter and there have been reports since then about job cuts, mostly outside the United States.

China Daily said the news site reported those affected can expect about $2,270 for every year of service as compensation.

Company executives had earlier indicated expenses needed to be cut to maintain profits, the report said.

The report said IBM has been seeking to increase its software and information technology consulting businesses in China as hardware demand in the nation weakens.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
4
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
5
Russia doesn't fear Azeri gas, scholar says Russia doesn't fear Azeri gas, scholar says
Trending News
Around the Web
x
Feedback