Dive Brief:

• IBM continued its broad layoffs last week, impacting employees in North Carolina, New York and Colorado, according to the Wall Street Journal.

• The company also announced it plans to close its campus in Somers, New York and move workers to an office in North Castle, New York

• Looking to grow in new areas such as cloud and data analysis, on Friday the company said it has more than 20,000 open positions. 

Dive Insight:

The recent job cuts are part of IBM's plan to "rebalance" its workforce and cut nearly one-third of the U.S. staff. The company's last round of layoffs in March affected 5,000 employees. 

IBM has been looking to build its cognitive computing, cloud and IoT businesses and shift away from its older business platforms. Some believe the layoffs are a sign the company is not shifting its business model fast enough to remain profitable.

"Their initiatives aren’t going as fast as they’d like them to and it’s affecting their revenue more than they thought," an anonymous IBM employee told the Wall Street Journal.

In March, IBM employed an estimated 378,000 people worldwide. The company has not said exactly how many people the layoffs will affect, but one analyst estimated the layoffs would affect more than 14,000 jobs, according to the Wall Street Journal. 

While there are widespread job cuts, with some positions moving offshore, IBM recently hired 70,000 new employees in areas where it is looking to grow, like cloud computing. 

IBM is not the only company planning mass layoffs as a way to reinvent core business models. In April, Intel announced plans to cut 11% of its global workforce—up to 12,000 positions—by mid-2017.