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A $1 billion “rebalancing” of its workforce as IBM (NYSE: IBM) describes its latest round of layoffs is expected to begin in the U.S. at any time, internal sources tell the union seeking to represent IBM workers. Layoffs in what IBM official calls a “resource action” already have begun overseas, an action confirmed by an IBM spokesman.

The moves are being made under a plan labeled as “Project Apollo,” workers have told Alliance@IBM, an affiliate of the Communication Workers of America.

Two previous layoff rounds were called Project Mercury and Project Phoenix.

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