2023-01-26 00:19:56

IBM Announces 3,900 Job Cuts

Logo The New York Times
The New York Times
By Steve Lohr

The company said the layoffs were a final step after asset sales rather than a sign of weakness in its business.

IBM joined the wave of layoffs by technology companies on Wednesday, saying it will shed 3,900 workers.

The company described the cuts as mainly a result of earlier asset sales rather than a weakness in its business. In 2021, IBM spun off its legacy technology services business as a separate company, Kyndryl. And last year, IBM sold off its health care data analytics business.

The company said it would take a charge of $300 million in the first quarter to pay for employee severance costs.

Continue read on nytimes.com

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