According to Reuters, the company, which reported a five percent decline in revenue to $23.4 billion for the first quarter of 2013, has said it will be trying to make up gaps through $1 billion of accounting charges this year.
It also wants to ensure its profits are boosted by 2015, despite the critical global economic crisis.
Part of this saving will have a knock on effect on its workforce, with three trade union reps over in France claiming that the company plans to axe up to 1,400 jobs in the country over the next two years.
IBM has yet to confirm that its heads in the US have okayed the pink slip practice, but the union reps have said the deed had already been communicated.
Pierry Poquet, secretary general of the UNSA union told Reuters that IBM head honchos were set to present the plan to cut between 1,200 and 1,400 staff in a meeting was planned for April 25.
The CFE-CGC union’s representative, Evelyne Heurtaux, backed up her pal saying she had also been told that there was a around 1,300 jobs slated for the next two years.