TECHNOLOGY - July 29, 1992
From Times Staff and Wire Reports
IBM Sees 32,000 Fewer Jobs by Year-End: International Business Machines Corp. said voluntary cuts will eliminate 32,000 positions this year from its worldwide work force of 344,000. The announcement marked a big jump from a previous estimate of 20,000 cuts. It said more employees are taking advantage of job-reduction incentives than had been anticipated. IBM said the additional departures will cost about $1.2 billion. The company predicted that ongoing savings will make up for new costs within 18 months.
