International Business Machines Corp. (IBM) on Tuesday reportedly announced that it would execute a workforce rebalance that would impact a low “single-digit percentage” of its global workforce.
According to a report by Bloomberg, an IBM spokesperson stated that these job cuts would be implemented in the fourth quarter (Q4).
IBM had approximately 270,000 employees as of the end of 2024. Even a 1% cut would result in 2,700 job cuts during Q4, hence impacting thousands of roles at the New York-headquartered company.
However, IBM is not the only major company to have recently announced job cuts.
Amazon
Amazon.com Inc. (AMZN) announced in late October that it would reduce its corporate workforce by nearly 14,000 roles.
Paramount Skydance
Paramount Skydance Corp. (PSKY) announced in October that it will lay off more than 2,000 employees as part of an ongoing post-merger restructuring of the company. The initial round of cuts would impact around 1,000 employees, it said.
General Motors
General Motors Co. (GM) reportedly laid off more than 200 employees, mainly at the company’s Tech Center in Warren, Michigan.
United Parcel Service
United Parcel Service Inc. (UPS) announced in October that it had reduced its workforce by 48,000 employees, resulting in approximately $2.2 billion in cost savings.
Applied Materials
Applied Materials Inc. (AMAT) announced in October that it would cut its workforce by 4%, impacting nearly 1,400 employees, according to a report by Reuters.
Meta Platforms
Meta Platforms Inc. (META) cut around 600 roles from its AI unit, according to a report in October.
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