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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Davy Crockett who wrote (10928)	7/3/2001 3:32:26 PM
From: Challo Jeregy	Respond to of 52237

it seems as if it's not a big deal though - that's why it didn't make much news, I guess - BM Trims 1,500 Global Services Jobs AP Technology Writer ARMONK, N.Y.--After adding more than 10,000 new employees this year, IBM Corp.'s burgeoning Global Services group is laying off about 1,500 workers. The job cuts are being made at various U.S. locations to respond to changing client demand. The layoffs do not reflect a business slowdown, IBM spokeswoman Jan Butler said Tuesday. Global Services, the consulting and outsourcing arm of the technology giant, is one of IBM's fastest-growing units. With the hiring of more than 10,000 new workers in the first five months of 2001, the group employs some 150,000 workers. Butler said about 1 percent of those jobs would be cut. Employees losing their jobs were notified on Monday. The U.S. division, where the layoffs will take effect this month, accounts for roughly 40 to 60 percent of Global Services' employment. IBM counts more than 315,000 employees worldwide.