Tech
US Tech Giant, IBM To Sack 3900 Workers
IBM, a US multinational technology company, has become the latest tech giant to slash thousands of jobs.
The data giants announced on Wednesday that 3,900 job positions would become void, or 1.5% of its global workforce.
The company explained that this layoff was not due to poor employee performance in 2022 or a fear for the new year, saying they were related to the previously announced sale of two business units.
According to a spokesperson, these job cuts will cost IBM about $300 million this quarter.
While the layoff trend has persisted, IBM has explained that they are not downsizing in response to the gloomy global economic outlook.
IBM CEO, Arvind Krishna, expressed utmost confidence in the upcoming year in a call with the CNN on Wednesday.
The units affected by this development are; Kyndryl, an IT infrastructure services business that was officially separated from IBM in November, and IBM’s healthcare analytics business, which an investment firm is in the process of acquiring.
(Culled from Technext)