IBM has stated that the Forbes magazine report detailing its plans to slash 26% of its global workforce are ‘ridiculous’ and ‘baseless’.
As per its latest earnings report, the tech firm noted that it will be cutting jobs, but that those jobs number in the several of thousands,which is only a fraction of the reported 112,000 jobs at risk in the Forbes report, according to Reuters.
IBM has been gradually restructuring its business, which employs over 400,000 staff, for several years, slashing jobs in some areas and creating roles in new growth businesses.
IBM said in a statement: "IBM does not comment on rumors, even ridiculous or baseless ones."
"If anyone had checked information readily available from our public earnings statements, or had simply asked us, they would know that IBM has already announced the company has just taken a $600 million charge for workforce rebalancing."
"This equates to several thousand people, a small fraction of what’s been reported."
By late 2013, IBM had 431,212 employees, which is slightly less when compared to the 434,246 employees in 2012.
IBM reported a 11% drop in its net income during Q4 to $5.5bn, while its revenue dropped by 12%, signifying the tech firm’s 11th successive quarter revenue drop.
