IBM Cuts 1000’s of Staff in Newest Tech Layoffs
IBM on Wednesday joined Microsoft, Google and different tech corporations chopping jobs, saying 3,900 staff could be laid off. The information got here throughout a convention name because the computing big reported its monetary outcomes for 2022’s fourth quarter, as beforehand reported by The New York Occasions and different retailers.
The layoffs are a results of its spinning off of know-how providers enterprise Kyndryl as a separate firm and the sale of its well being care information analytics enterprise. The cuts quantity to 1.5% of its workforce, in line with Reuters.
Regardless of this, IBM’s quarterly income of $16.7 billion beat Wall Road’s estimate, the Occasions famous.
Software program firm SAP additionally introduced job cuts of as much as 3,000 staff, as reported by The Wall Road Journal on Wednesday. The layoffs quantity to 2.5% of SAP’s international workforce, with the corporate having employed round 111,015 folks final yr (in comparison with 104,364 in 2021).
Neither IBM nor SAP instantly responded to requests for remark.