Bangalore: Tech giant IBM has started laying off employees and according to Bloomberg’s reports, the company stated recently that it has plans to spend $1 billion on severance and other costs to reduce its work force.

It is said to add up to between 6, 000 and 8, 000 jobs and according to various sources, IBM is cutting all kinds of employees, from rank-and-file staff executives. The company had 434,246 employees worldwide at the end of 2012 and hence these cuts would amount to less than 2 percent. Employers are expected to notify the state within 24 hours when 25 or more workers are laid off.

An IBM employee declined to comment on the issue but according to his email statement, “Change is constant in the technology industry, and transformation is an essential feature of our business model,” said the company in a statement. IBM added saying, “Consequently, some level of workforce remix is a constant requirement for our business. Given the competitive nature of our industry, we do not publicly discuss the details of staffing plans.”

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