IEEE Spectrum:

Last week, IBM reported to investors that its workforce at the end of 2015 was almost as big as its workforce at the end of 2014 (within less than 1 percent), in spite of a year in which 70,000 employees left the company, to be replaced with new hires and acquisitions.

By the end of this week, the picture may look quite different. Today reports are coming in that big layoffs across the United States are underway, likely one-third of the U.S. workforce, according to one soon-to-be-laid-off IBMer.

One third of the US workforce. If true, that is perhaps 100,000 people. When I first read this, I was skeptical, but there is a lot of supporting detail, not just a single report from a disgruntled employee.

Likely adding to the pain of many of these workers is a recent change in IBM’s severance policy, reducing a potential maximum of six months of benefits to one month’s worth.

Ouch.