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IBM CUTS 300 JOBS: IBM Corp. cut 300 jobs in its computer systems division Tuesday, about 2 percent of the unit's overall work force. The cuts affect the systems division's development and finance groups and mainly will take place in San Jose, Calif., IBM spokesman Jim Larkin said. He said the layoffs were necessary for IBM "to rebalance skills" and remain competitive. IBM's systems group, which makes the high-powered servers that perform corporate computing tasks, has 13,000 employees. IBM has more than 315,000 people overall.

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