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IBM Cuts Jobs
Oct 23, 2002
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International Business Machines Corp. will shut a hard-disk drive plant in Hungary, cutting 3,700 jobs because of an industry slowdown. In addition, IBM's Global Services unit will eliminate about 500 jobs, a spokeswoman said.

The plant in Szekesfehervar outside of Budapest, will stop production Nov. 30, dismissing 2,100 IBM employees and 1,600 contract workers, spokesman Roger Warner said. Another 200 disk-drive jobs outside of Hungary were cut as well, due to reduced production industry wide, IBM spokeswoman Carol Makovich said. (Bloomberg News)

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