IBM has stated that it has not laid off 15 000 jobs in the past quarter, as reported in The Register on 21 August 2003 and carried in ITWeb`s technology news wrap-up.
The layoffs in fact took place in the quarter ending June 2002, with the notes to the financial statements stating that "the company rebalanced both its workforce and leased spaced resources primarily in response to the recent decline in corporate spending on technology services".
In contrast, IBM Corporation has enjoyed a strong past quarter. "IBM Global Services delivered strong double-digit revenue growth, reinforcing our leadership position in IT services," says Sam Palmisano, IBM chairman and CEO. "IBM delivered a solid quarter despite the challenging economic environment."
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