The tech giant is said to be laying off over 100,000 of its staffs in the coming weeks according to a report recently published in Forbes. The online news agency stated that up to 26% of the staff force could be affected globally during the exercise code named Project Chrome. IBM is one of the largest employer on the planet employing about  430,000 employees and news like this can cause reverberating effects. However IBM has come out rubbishing the claim with the company’s spokesperson Ian Colley dismissing on the high number and claimed only a small number of employees will be leaving the company as part of its “rebalancing” action.

Big Blue has been reporting sluggish profits for the past consecutive quarters which carries some weight to the rumour, but the numbers reported by the blogger at Forbes seems unlikely. As part of the reorganisational exercise, its quite common for large company’s letting go certain people and reemploy in other areas.