IBM Denies Rumor 100K Employees Will Be Laid Off

IBM denies a rumor that the company is about to eliminate about 110,000 jobs, Fast Company’s Fast Feed reported yesterday. While IBM denies the rumor it will shed that many employees, Fast Company says the company admits it will lay off “several thousand” employees.

“IBM does not comment on rumors, even ridiculous or baseless ones,” IBM denies the rumor in an email to Reuters. “If anyone had checked information readily available from our public earnings statements, or had simply asked us, they would know that IBM has already announced the company has just taken a $600-million charge for workforce rebalancing. This equates to several thousand people, a small fraction of what’s been reported.”

IBM flatly denies the rumor it will let more than 100,000 employees go, BusinessReport reported today. IBM denies the rumor, called it ridiculous, and claims it will layoff a much smaller number of employees.

“However, laying off a quarter of IBM’s workforce would be ‘off the charts,'” said Daniel Morgan, senior portfolio manager at Synovus Trust Company, which holds about 300,000 IBM shares. “I can’t see that. But I wouldn’t be surprised if we did hear of some more layoffs.” IBM has had three big reorganizations in previous decades, he noted,” BusinessReport reported.

IBM denies rumor of massive layoffs, the Inquisitr reported yesterday. The IBM layoff rumor has been reported over the last few days, which prompted the statement that IBM denies they will layoff about 26 percent of their employees.

The company denies the layoff rumor, but it has eliminated large numbers of employees in the past. The company is seen as struggling to compete with the likes of Apple and Google and layoff rumors are often believed by many despite the fact that IBM denies them.

“IBM may deny the rumors of a potential layoff, but it wouldn’t be a complete surprise. The company’s largest round of layoff took place in 1993 when Big Blue released 60,000 people, which is a record when it comes to corporate redundancies,” the Inquisitr reported about the job elimination rumors IBM denies.

Image of IBM building in Amsterdam from Wikipedia.