IBM is reportedly laying off thousands of employees.
Amidst rumors of another massive round of layoffs, giant technology company IBM promised to keep at least 3,100 employees in New York up until 2016. IBM also told New York governor Andrew Cuomo that it would employ 500 more people in Buffalo.
Don't Miss: The NES Classic In Stock at these Stores
But that wasn't enough to pacify panicking employees.
Earlier this week, a union representing employees at IBM said that the company is expected to launch another round of layoffs on Wednesday, February 26th, and with an official announcement to be released on Thursday this week.
Alliance@IBM, a union that was not officially recognized by IBM, said that the code name for the round of cuts is "Project Apollo." The said cuts are a part of IBM's workforce rebalancing this year.
Although the exact number of layoffs isn't known, Bernstein Research analyst Toni Sacconaghi believes that IBM will layoff at least 13,000 heads worldwide. Alliance@IBM also said that IBM slashed over 2,800 employees in 2013.
"Reports from IBM employees are that management meetings with employees will be held tomorrow,” said Lee Conrad of the national alliance’s office. “Ideally it is IBM that should be giving IBM workers up-to-date information and not leaving it to the rumor mill, but it appears IBM is shirking that responsibility.”
IBM declined to comment on the report.
The company has been tight-lipped about specific employment counts. The last known number of IBM employees was 434,246. The headcount dates back to 2012.