IBM Planning 10,000 Job Cuts in Europe Ahead of Unit Sale
- U.K. and Germany are set to be most impacted regions
- Big Blue focuses on hybrid cloud computing, AI businesses
Photographer: David Ramos/Getty Images
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International Business Machines Corp. is planning to cut about 10,000 jobs in Europe in an attempt to lower costs at its slow-growth services unit and prepare the business for a spinoff.
The wide-ranging losses will affect about 20% of staff in the region, according to people familiar with the matter. The U.K. and Germany are set to be most impacted, with cuts also planned in Poland, Slovakia, Italy and Belgium.