Feb. 26 (Bloomberg) — International Business Machines Corp.'s employee count dropped for the first time in a decade as the world's biggest computer-services company reined in costs to help meet profit goals.
IBM had 431,212 employees at the end of 2013, down 0.7 percent from a year earlier, according to a filing. The company spent $1 billion last year to restructure its workforce and plans to do the same this quarter.
IBM is aiming for $20 a share in adjusted earnings by 2015, up from $11.67 in 2010 — a target made more difficult by seven straight quarters of falling revenue. To get there, Chief Executive Officer Ginni Rometty has fired and furloughed workers, sold assets, cut IBM's tax rate and bought back shares.
The company has already begun eliminating positions this year in Europe, Asia and South America, according to Alliance@IBM, an employee group. Workers in the U.S. and Canada are expected to be notified about job cuts today, the group said.
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