Ibm Raises The Ax Again

Since its 1986 peak of 406,000, IBM's payroll has shrunk by almost 60,000, as many employees have opted for lucrative early-retirement plans and other incentives offered by the beleaguered computer giant. But IBM seems determined to slash costs even more. It's expected in early December to reveal plans for cutting as many as 20,000 more people in 1992.

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