IBM Reportedly To Lay Off About 1,700 Employees

(RTTNews) - International Business Machines Corp. (IBM) would lay off about 1,700 employees, as the company seeks to evolve its business through a major acquisition and meet its goal of growing profits, CNBC reported citing people familiar with the matter.

Posts on the discussion board TheLayoff.com suggested cuts were made in a number of departments in various locations.

IBM, a technology company that makes and sells software, computer hardware, infrastructure services, and consulting services, has more than 340,000 employees.

IBM announced job cuts in 2016 and in 2017.

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