The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Computer Programming, Consultancy And Related Activities Computer Programming, Consultancy And Related Activities 62 - Computer programming, consultancy and related activities
New offshoring locations
India
1,000 - 2,500 jobs Number of planned job losses
Announcement Date
5 May 2005
Employment effect (start)
6 May 2005
Foreseen end date
31 December 2005
Description
IBM has announced that it will cut its european workforce by 10 %. Weak demand in Europe has brought about over capacity, CFO Mark Loughbridge said. Some functions are to be relocated to India, China and Eastern Europe. While there was no definite announcement as to the exact number of job losses for the German operations, trade union Verdi estimates that 2,500 jobs will be cut. IBM will enter into negotiations about a redundancy program, but has announced that there will be direct dismissals.
Sources
6 May 2005: Frankfurter Allgemeine Zeitung
Citation
Eurofound (2005), IBM, Offshoring/Delocalisation in Germany, factsheet number 61531, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61531.
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