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International Business Machines Corp.
IBM, + 0.56%
has laid off approximately 1,700 employees, CNBC reported on Thursday night. Messages on the TheLayoff.com discussion forum suggest cuts in a number of departments located at various locations. IBM employs about 350,000 people and had previously removed jobs in 2016 and 2017. IBM's quarterly business figure declined more than expected in April, but its stock is still up 16 percent. % since the beginning of the year, compared to the S & P 500
SPX, + 0.61%
13% gain. Last month, IBM received a very favorable welcome to the sale of a $ 20 billion bond to finance its acquisition of Red Hat Inc.
RHT, + 0.08%
.
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