IBM is refusing to comment on reports that it plans to cut more than 10 per cent of its US workforce.
Union representatives have been saying publicly that they expect an announcement of the cuts any day now. They believe IBM could lay off up to 10 per cent of its 160,000 US employees.
An IBM spokesperson dismissed the union comments as "rumour and speculation".
But there are indications that the unions may be right. Big Blue's new chief executive, Samuel Palmisano, was downbeat about the outlook for technology spending and suggested there would have to be cost-cutting by the firm.
IBM shares have fallen sharply recently as Wall Street has grown increasingly pessimistic over the company's prospects.
US analysts DataWatch are expecting lay-offs of between 4,000 and 15,000 employees, and other analysts have said they would not be surprised by a reduction in the company's workforce based on IBM's current situation.
According to a report by the fuckedcompany.com website, a disproportionate amount of the job cuts will come from the company's Global Services unit.
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