IBM will spend $1bn on cutting 15,000 jobs worldwide, according to trade union Alliance@IBM.
The Register reports that IBM had already spent the same amount of money last year on ‘workforce rebalancing’.
During IBM’s announcement for its Q4 earnings, chief financial officer Martin Schroeter did reveal that more job cuts would be on the way in 2014.
"As we look forward to 2014, we’ll continue our transformation, shifting our investments to the growth areas, and mixing to higher value. We’ll acquire key capabilities, we’ll divest businesses, and we’ll rebalance our workforce, as we continue to return value to shareholders," he said.
The news comes a day after Dell began to layoff staff worldwide, with reports that more than 15,000 employees could be made redundant.