IBM rubbishes reports of firing 5000 employees; says “re-skilling”, “re-balancing” workforce

As media reports surfaced that IBM may fire at least 5,000 employees over the next few quarters, the company dismissed the reports saying they were factually incorrect.

The reports of IBM laying-off employees come in the wake of Infosys, Wipro and Cognizant letting go off employees amidst slowdown in the IT sector.

IBM said it was continuing to re-skill and re-balance its employee workforce.

"This is factually incorrect. We are not going to comment further on rumours and speculation. Re-skilling and rebalancing is an ongoing process as we accelerate the benefits of cognitive and cloud technologies for clients around the world,” a spokesperson for IBM told ET.

ET quotes a source saying IBM had handed over pink slips to 200 employees in a business unit last year.

IBM employees over 1,50,000 people in India currently.