IBM to cut up to 13,000 jobs

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IBM to cut up to 13,000 jobs

International Business Machines said Wednesday it would cut between 10,000 and 13,000 jobs and record a pre-tax charge of between $1.3 billion and $1.7 billion in the second quarter.

IBM surprised investors last month when it missed first-quarter earnings estimates by 5 cents a share. When it reported earnings, the chief financial officer Mark Loughridge said the company would take a “sizable restructuring.”

Read the complete story. (AP)

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