IBM Layoffs Job Cut rumors: may fire thousands of employees

The situation is worsening further for the all sectors and the new year is proving to be no good for any employees or any company, especially the technology sector. Just 2 days back, we had reported about Microsoft Layoffs Job Cut rumors and now there are rumors that Big Blue IBM may go for a massive layoff. The latest one to add to that list is IBM, which might go for the layoffs in this year i.e. 2009. It is learnt that these layoffs may be done to save costs.
In February, there were news about IBM layoffs and now again there is a buzz for the layoffs in the same tech company.

How many employees may be fired in the IBM layoffs?
There are no news as of now, only rumors running around on the unofficial IBM employee website IBMemployee.com. There are so many different posts and entries which are mentioning that there will be layoffs at IBM. The no. of layoffs mentioned is 16,000.

What is the primary reason for IBM layoffs rumors?
The reason quoted by the company is due to the worsening economic situation, bad financial results and cost cutting.

Let's hope that alternative jobs are available to the affected employees of IBM Layoffs Job Cut, if layoffs do happen.