IBM Confirms 400 Job Cuts Sept. 26, 2003 -- WorldTradeStocks.com

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Subject:

IBM Confirms 400 Job Cuts Sept. 26, 2003

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Swiss exchange

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Date Posted: 13:45:32 09/26/03 Fri

IBM Confirms 400 Job Cuts Sept. 26, 2003

The vendor says it's part of an overall skills-rebalancing effort.
By Paul McDougall

An IBM spokesman today confirmed that the company will cut about 400 jobs, or about 1% of staff, in its software group. The cuts include a number of sales and marketing positions at IBM software facilities in Somers, N.Y., Cupertino, Calif., and Austin, Texas, where IBM's Tivoli software unit is based.
An IBM spokesman said the cuts were part an overall skills-rebalancing effort within the group and don't reflect a broader cost-cutting initiative within the group. IBM's software revenue increased 6% year-over-year to $3.5 billion in the second quarter.

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