Tech giants IBM, SAP join layoff club

IBM Corp and SAP joined a growing group of technology behemoths to lay off thousands of employees in recent months amid global economic uncertainty. 

While German software giant SAP confirmed plans to cut 3,000 jobs, or 2.5 per cent of its global workforce in a bid to cut costs, agencies reported that New York-based computing giant IBM would reduce some 3,900 jobs, slightly more than one per cent of its staff.

An IBM spokesman refused to shed light on how the layoffs would affect its Indian operations. A SAP spokeswoman asked for more time to share details of how the move would affect its Indian arm.