01:57 PM EST, 11/04/2025 (MT Newswires) -- IBM ( IBM ) will shed thousands of employees this quarter amid its ongoing shift toward a business focused on software and services, Bloomberg reported Tuesday, citing a company spokesperson.

The job cuts will affect "a low single-digit percentage" of IBM's ( IBM ) global workforce, the spokesperson said, according to the report.

IBM ( IBM ) didn't immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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