“A report in Forbes on Thursday said the company was preparing to cut its workforce by 26%, which would amount to the largest workforce reductions in IBM’s history and affect more than 100,000 employees.”
Yes, but ironically this move will likely make IBM stock go up.
True. In fact that is probably one of the main reasons for the cutbacks.
But it certainly won't help the employment/unemployment ratio in the US, although not all of the layoffs are domestic.