Bengaluru, May 24: Amid reports of IBM undertaking major layoff exercise globally due to economic loss, sources claim that a few hundred jobs in India also are at stake. This news arrives within 50 days after Arvind Krishna had taken charge of IBM as Chief Operating Officer. As per the statement given to the media late Friday, IBM has one-third of its global strength in India.

According to a report, published by the Times of India, among the people on the lay-off list include mid-level executives like project managers and others. These people have spent over a decade in the firm. One of the employee said that he has been asked to resign due to the lack of projects. Adding more, he said that he has been given three month's basic salary as severance. The employee also stated that the lay-off in India began in April 2020. IBM Lays Off 'Thousands' of Employees as COVID-19 Hits Business.

Earlier, IBM statement said, as quoted by TOI, "IBM's work in a highly competitive marketplace requires flexibility to constantly remix high-value skills, and our workforce decisions are made in a long-term interests of our business." IBM has also announced significant cost-cutting measures, including pay cuts and significant job losses.

Meanwhile, IBM has started layoffs in the United States. A company spokesperson had said, "Recognising the unique and difficult situation this business decision may create for some of our employees, IBM is offering subsidized medical coverage to all affected US employees through June 2021." IBM, however, did not disclose how many workers are affected.

(The above story first appeared on LatestLY on May 24, 2020 01:02 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website