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IBM to cut 15,000 global jobs

IBM has announced it is cutting up to 15,000 global jobs as part of a wider downsizing plan that will see redundancies in Europe, India and Brazil.
In January, the US-based tech giant said its top executives will give up their bonuses as a $1 billion restructuring programme takes place during the first quarter of 2014, driven by declining sales of servers and storage systems.
The initial fallout from that restructuring is now settling on India, which is set to bear the brunt of the cuts as its Systems Technology Group (STG) is downsized.
Around 100,000 IBM employees - or a quarter of the company's entire global workforce - are located in India, and these are set to be the first hit, with staff removed at all levels, including managerial positions.
One key concern among analysts is that the IBM cuts will have a subsequent detrimental impact on other technology companies in India and around the world, which rely on partnerships with IBM, though the company has claimed it will continue to invest in areas of potential growth, including cloud, analytics and cognitive computing.
By Tony Aynsley