IBM has become the latest in a line of technology companies being forced to lay off its employees by the credit crunch – but it is refusing to reveal how many have been made redundant.
The company has reportedly laid off over 4,000 workers during the past week across its sales, software and hardware divisions, according to Associated Press. However, IBM claims the cuts are nothing more than part of its normal cost-cutting measures and won't release specific numbers.
Employees have reported layoffs from IBM's facilities across the US, including its offices in Arizona, California, Minneapolis, New York and Texas. Rival technology businesses such as Intel, Microsoft and Google have all publically announced layoffs in reponse to the economic crisis.
IBM has said it isn't required to reveal the number of jobs cut as the Securities and Exchange Commission only demands that companies disclose material” events. The firm considers its layoffs a normal part of its business model, claiming thousands of jobs are cut every year but are added back in other departments.
An estimate by an American workers' union, AllianceAtIBM, of the mass layoffs claims more than 4,000 jobs have been lost since IBM revealed its Q4 earnings last week. Associated Press reports it reviewed a document revealing nearly 3,000 of the positions that have seen employees made redundant.