TECHNOLOGY & TELECOMMUNICATIONS
From Times Staff and Wire Reports
IBM Job Cuts Proceed Slowly: The computer giant said it has cut 20% to 23% of the 35,000 jobs it said it would eliminate by year’s end. International Business Machines Corp. set that goal last July, saying it would reduce costs by $3 billion this year. So far, between 7,000 and 8,000 jobs have been cut, an IBM spokesman said. That leaves 27,000 to 28,000 jobs to go over the next eight months. At IBM’s annual meeting earlier this week, Chairman Louis V. Gerstner told shareholders the company will be profitable this year for the first time in four years.
