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Tech company IBM looking at thousands of job cuts

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American technology group International Business Machines (IBM) is reportedly preparing to significantly reduce its workforce due to difficult market circumstances because of the coronavirus crisis.

IBM has not communicated yet how many jobs it would cut, but several sources have told Bloomberg that thousands of jobs are on the line, mainly in North America. The Wall Street Journal also reports several thousand job losses.

The IBM group is reportedly preparing to lay off staff in at least five US states: Pennsylvania, California, Missouri, New York and North Carolina.

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The company was already experiencing a continuous decline in turnover in recent years and it will have to further curb its investments and costs due to the coronavirus crisis.

The Brussels Times