That's got to hurt...
Published: 5 June 2002 15:25 GMT
IBM announced it will take a massive pre-tax charge of up to $2.5bn due to its continued job cuts and the sale of its hard disk division to Hitachi.
Yesterday IBM offloaded a further 1,500 employees from its microelectronics arm, bringing the total of US redundancies to 6,800 in just three weeks.
Some chip production plants in the US are being closed down as a result of yesterday's cuts.
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