IBM laying off 2,000 employees not performing ‘at a competitive level’

International Business Machines Corp. is laying off about 2,000 employees this week, according to news reports, as the company reshapes its business.

The move amounts to less than 1% of if its workforce, which totaled 350,600 at the end of last year.

IBM confirmed that a “small percentage of employees” who are not performing “at a competitive level” would be leaving the company. “We are continuing to re-position our team to align with our focus on the high value segments of the IT market – while aggressively hiring in critical new areas that deliver value for our clients and IBM,” the company said in a statement.

The Wall Street Journal and CNBC earlier reported on the job cuts.