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It seems that a move is starting by the corporates to reduce the manpower due to the recess. It is reported that IBM, a global giant, is proposing to reduce its staff by 15,000.
IBM has got 4 lakhs workers out of which one lakh is in India. The retrenchment may seriously affect the workers engaged in India. The details are yet to be known, including how much IBM proposes to reduce in India.