IBM plans job cuts and outsourcing

Multiple reports are citing company sources with the claim.

Estimates for the number of job cuts are said to be running as high as 5,000.

According to the Wall Street Journal, the company is also planning to move a larger portion of its operations to India.

Last month, the company began offering positions in India to laid off US staffers.

IBM was also said to be making job cuts in January which were estimated to run as high as 4,000 positions.

Big Blue is hardly alone in being forced to cut jobs. The economic crisis has lead nearly every big name in the IT industry to issue layoffs. Companies such as Oracle, AMD and Spansion have been among the dozens of major IT companies forced to shed jobs in recent months.

Other companies such as Intel and HP have instituted salary cuts or freezes in an effort to prevent further redundancies.