There is another massive job cut to come from the giant player of the IT industry. IBM announced to cut around 5000 jobs and just from US.
This would probably increase the unemployment rate to a certain extent, as the number is big this time. The shares of IBM are running a little slower than normal, with the news.
The job cuts will be mainly in the global services section. Though the job cuts are not appreciable, the IBM has no other choice in order to reduce its costs amid bad economy as well as bad business.
There are some other news that the job cuts are going to increase to 10,000. No news from IBM yet on the number of job cuts or specific reasons for the job cuts.
I hope this doesn’t encourage some other company to announce layoffs in their organization.
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