Feeds

IBM wants UK workers to walk the plank

Voluntary separation

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

IBM is asking an unspecified number of UK employees to accept a voluntary redundancy package.

An IBM spokeswoman confirmed the offer of "voluntary separation", made across IBM's business last week, but was reluctant to be drawn on details. She said that IBM had no plans to make enforced redundancies.

According to our sources, the redundancy package will offer two weeks salary per year of service. IBM wants to shed 500 staff through the offer, we were told.

IBM said no specific figures had been set and that the current voluntary redundancy offer was not substantially different from previous programmes. The job cuts are aimed at "increasing its competitiveness and reducing costs", IBM told us.

Last month, IBM surprised the market with a profit warning that suggested its sales for its first Q1 2002 would be between $18.4bn and $18.6bn, about 6 per cent less than it had led analysts to expect, and 12 per cent lower than in the same period a year ago. It said profit would be hit even harder, with pre-tax income down to between $1.65bn to $1.75bn from $2.49bn a year ago. ®

Related Stories

IBM profit warning shocks market
US server sales show green shoots of recovery

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
BIG FAT Lies: Porky Pies about obesity
What really shortens lives? Reading this sort of crap in the papers
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.