OTHER NEWS - Feb. 16, 1993
From Times Staff and Wire Reports
IBM to Break No-Layoff Policy: International Business Machines Corp. announced that it will lay off employees for the first time in its history. The company said a program aimed at increasing efficiency and competitiveness will include a reduction in its work force. In a press release, IBM detailed benefits for laid off employees but declined to specify the number or type of employees to be laid off. “While it is anticipated that some of the resource reductions will be resolved voluntarily, involuntary reductions may occur in some geographic and business areas,” the company said in the statement.
