RESEARCH TRIANGLE PARK – Big Blue made headlines with recent plans to cut 3,900 workers but it turns out the tech giant is actually adding more talent even with the number of job cuts growing.

Chair and CEO Arvind Krishna told Bloomberg News on Wednesday evening that IBM hired 7,000 people in the first quarter. He also said layoffs within the existing workforce would end up being around 5,000. So headcount ends up with a net gain.

Chip rival GlobalFoundries sues IBM, alleges ‘unlawfully sharing’ of trade secrets

The earnings report and revenue forecasts were pretty close to analysts estimates, leading to a a slight growth in IBM stock in afterhours trading.

IBM received a positive boost from an analysis posted by CNBC: