TECHNOLOGY - Sept. 10, 1993
From Times Staff and Wire Reports
IBM Plans to Shed 40% of Its Office Space: The computer giant hopes to cut the amount of space it leases or owns across the United States to 26 million square feet from 44 million feet, threatening to exacerbate a glut of office space in many cities around the country. The move is part of a plan to trim IBM’s worldwide real estate holdings by 15% over the next few years to save about $500 million annually, a spokesman said.
