IBM May Cut 8,000 Jobs in Germany, Handelsblatt Says
(Corrects to specify German board source citation in first
paragraph.)
International Business Machines Corp. (IBM)
may cut as many as 8,000 jobs from a total of 20,000 positions
in Germany, Handelsblatt reported, citing unidentified people
from the company’s local board.
IBM’s German division, which generates about 5 billion
euros ($6.5 billion) in annual sales, missed targets set by
headquarters, the German newspaper said. IBM’s management team
is working on a reorganization which includes contracting out
some tasks, Handelsblatt reported.
To contact the reporter on this story:
Sheenagh Matthews in Frankfurt at
smatthews6@bloomberg.net
To contact the editor responsible for this story:
Benedikt Kammel at
bkammel@bloomberg.net
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Article source: http://webfarm.bloomberg.com/news/2012-02-01/ibm-may-cut-as-many-as-8-000-jobs-in-germany-handelsblatt-says.html
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