IBM Cutting 400 From Software Group

The cuts amount to about 1 percent of IBM's 38,000 software employees. The Armonk-based company employs about 320,000 people overall.

Affected employees were notified Wednesday, and will have a month to find other positions within the company, IBM spokesman Joseph Stunkard said. If they can't sign on elsewhere in IBM in that time, they will be let go, with severance.

IBM has acquired several software companies in recent years, and the cuts are happening in multiple facilities, including in Austin, Texas; Boulder, Colo.; Raleigh, N.C.; Cupertino, Calif.; and Somers, N.Y.

IBM shares rose 1 cent to close at $89.41 in trading Thursday on the New York Stock Exchange. Last month IBM cut 600 jobs in its chip unit.

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