How many jobs will IBM cut?

Computer giant IBM says it will cut up to 13,000 jobs or four percent of its workforce in a cost-saving move specifically targeting Europe. IBM says it will reduce its bureaucracy and scale back its operations in slower growth countries, using global teams to deliver some services. It says one specific move will be to eliminate an entire layer of management for Europe. One analyst says the job cuts could yield fifty cents per share in after-tax savings for IBM and that would amount to 10 percent of the profit that analysts expect IBM to produce this year.