IBM to cut 1,000 jobs in chip business News from E-InSite IBM has said it will cut about 1,000 jobs from its worldwide semiconductor division. The layoffs would amount to about 4.6 per cent of IBM Microelectronics' staff. The eliminated jobs are expected to be both management and non-management positions. IBM currently employs about 21,000 people. "The industry, as you know, is in the deepest decline ever," said an IBM spokesman. "We've been faring better than most and I think that's why we have not announced any reductions before this, and why this one is a lot less than what our competitors announced, but it is affecting us." IBM's revenues fell 6 per cent in the third quarter to $20.4bn while revenue for microelectronics fell 30 per cent year-on-year. The 1,000 employees will be able to apply for jobs elsewhere in IBM. is HyperActive's affliated US site.