By Aled Herbert, 16 May 2002 09:15
NEWS IBM CEO Sam Palmisano has confirmed the company is planning make significant job cuts that are likely to be higher than early reports suggested. Sources close to the company last week suggested that the job axe will fall on just under three per cent of its global workforce - around 9,000 employees. In his first meeting with Wall Street analysts, Palmisano predicted the company will emerge stronger than ever from the tech slump. Palmisano said he is committed to cutting costs of between $1bn and $2bn in 2002. Most of the job losses are expected in Big Blue's US operations, which employ around 160,000 staff.
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