IBM expected to lay off employees after disappointing 4Q revenue
IBM leaders say they expect to lay off more employees this year after the company missed revenue expectations for the fourth consecutive quarter.
It's unclear how many of the job losses will hit the company's facility in Rochester.
Last year, IBM cut Rochester workers as it moved Minnesota production manufacturing operations to Mexico and New York state. The coming layoffs will be comparable to last year's the company's chief financial officer said.
IBM reported 4,000 employees in Rochester in 2008, the most recent official count. But union officials estimate the Rochester workforce is currently around 2,500 employees. Nationwide, union officials estimate IBM has about 91,000 employees, down from roughly 160,000 about 10 years ago.
Revenue from the company's hardware operations fell significantly in the fourth quarter of 2013. Company leaders also say they'll forgo their annual personal incentive payments for 2013 as a result of the disappointing results.
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