Things aren’t going well for IBM. The six-month-old Apple partner is reportedly preparing for the largest corporate layoff in history.
After nearly three years of quarterly revenue decline, IBM is preparing to axe a staggering 111,800 employees. How the layoffs will affect IBM’s business with Apple remains unclear.
Codenamed “Project Chrome,” about 26% of IBM’s workforce will be let go this week, reports Forbes. All 111,800 employees will be gone by the end of next month. Most of the layoffs will happen in the US, but some international operations will be affected as well.
IBM will be topping the previous corporate layoff record of 60,000 in 1993—a record also set by IBM.