IBM reportedly cutting thousands of jobs

Investing.com -- International Business Machines Corp. plans to cut thousands of workers during the fourth quarter as the company continues to shift its focus toward higher-growth software and services, according to a Bloomberg report on Tuesday.

A company spokesperson reportedly confirmed the job reductions but said they will affect "a low single-digit percentage" of IBM’s global workforce, which stood at approximately 270,000 employees at the end of 2024.

"We routinely review our workforce through this lens and at times rebalance accordingly," the spokesperson said.

While some U.S. workers may be affected by the cuts, the company expects its overall U.S. employment to remain roughly the same year over year.

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