New Delhi: IBM, the world's largest computer services provider, has initiated a global restructuring plan by laying-off almost 2,800 employees in North America so far and more job cuts are in offing in other nations like India.
The restructuring plan announced in April after releasing disappointing first-quarter results will cost IBM $1 billion worldwide, including severance expenses.
FILE-In this undated file photo, an unidentified worker at the IBM plant in Essex Junction, Vt., works on manufacturing microchips. Gov. Peter Shumlin says IBM has notified him that a nationwide reorganization will mean job losses in Vermont. IBM currently employs slightly more than 4,000 people at its plants in Chittenden County. Vermont Labor Commissioner Annie Noonan says her department is ready to work with laid off IBM employees to ensure they can get unemployment benefits and to help them find other jobs.
In this undated image taken from video and provided by IBM, carbon monoxide molecules are arranged on the screen to form the IBM logo, in what IBM claims to be the world's tiniest stop-action movie. Entitled A Boy and his Atom, the one minute video employs individual carbon monoxide molecules that are rearranged to show a boy carrying out various activities. Each of the 242 frames measures 45 by 25 nanometers which is one billionth of a meter.
This undated image taken from video and provided by IBM shows a scene from what IBM claims to be the world's tiniest stop-action movie. Entitled A Boy and his Atom, the one minute video employs individual carbon monoxide molecules that are rearranged to show a boy dancing and bouncing on a trampoline. Each of the 242 frames measures 45 by 25 nanometers which is one billionth of a meter.
Former IBM CEO Sam Palmisano (L) introduces former Florida Governor Jeb Bush (R-FL) (R) to speak to the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 15, 2013.
HANOVER, GERMANY - MARCH 05: Visitors crowd the IBM stand at the 2013 CeBIT technology trade fair on March 5, 2013 in Hanover, Germany. CeBIT will be open March 5-9.
