IBM to lay off over 300 in Durham after closure of subsidiary

DURHAM, N.C. (WTVD) -- IBM will be laying off more than 300 people in Durham following the closure of one of its subsidiaries, according to a notice filed with the state.

The jobs, which were part of the IBM subsidiary called Seterus, will be permanently cut "no earlier than March 11," according to the Worker Adjustment and Retraining Notification that was submitted Jan. 9.

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According to our newsgathering partners at the News and Observer, the 310 job cuts come just a week after IBM agreed to sell Seterus to the mortgage services company the Mr. Cooper Group.

The now-former subsidiary was located at 3039 Cornwallis Road.

Further details on the closure can be found here.