There have been some rumors going around that IBM is planning to cut around a fourth of its workforce, which would be more than 100,000 people. While it still looks likes IBM is going to be hit with layoffs, numerous sources have told TechCruch that the number will be far lower than expected with only 11,000 to 12,000 being laid off.
Rumors have been swirling — and IBM’s stock has been rising — on reports that the company is planning a huge round of layoffs of up to 26% of its workforce, or 118,000 people. TechCrunch has been digging and has found out from two separate sources that there will in fact be job cuts, but not anywhere close to this magnitude. Multiple sources tell TechCrunch the 118,000 number was off by 10X, meaning the number would be closer to 11,000 or 12,000 — and the cuts wouldn’t happen all at once. As one Silicon Valley Insider who watches IBM closely told me, “It’s hard to believe they could lay off that many people, that fast.”