IBM to chop more than 10,000 jobs | Tech News on ZDNet — The Beginning of the End for IBM.

IBM plans to cut between 10,000 and 13,000 positions worldwide and to reorganize its management structure.

The changes, which will mostly affect IBM’s European operations, will result in a charge of between $1.3 billion and $1.7 billion in the second quarter this year and “yield benefits” in the second half of the year, the company said Wednesday.

The restructuring, a significant move for the company, was expected following Big Blue’s disappointing first-quarter 2005 earnings. Last month, IBM Chief Financial Officer Mark Loughridge said the company would undergo a “sizable restructuring” to address weak areas, notably in Europe.