IBM To Cut 450 U.S. Jobs

Sales of chips have dropped 9%.

IBM said that it will cut 300 jobs at plants in East Fishkill and Poughkeepsie, both in New York. According to Bloomberg News, spokesman Glen Thomas said that rest of the cuts, totaling 450, would be spread out across the country.

Thomas said that IBM " is combining the development and manufacturing of chips after the success of similar moves in its other units." He also said that sales had dropped 9% in the second quarter for the company's chip businesses.

But overall company profits rose 12% in the second quarter.

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