IBM plans to slash up to 13,000 jobs

IBM has announced plans to cut up to 13,000 jobs.

IBM, one of the world's largest technology companies, said Wednesday it plans to reduce its work force by up to 13,000 employees, mainly in Europe, as part of a global restructuring aimed at shifting resources to higher-growth markets.

The company will take a US$1.3 billion to $1.7 billion pre-tax charge related to the restructuring in the second quarter, IBM said in a statement.

The company has already initiated discussions for voluntary and involuntary work force reductions, IBM said.

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