IBM and SAP are cutting thousands of jobs | CNN Business

IBM\n \n announced the cuts Wednesday, saying they were related to the previously announced spinoff and sale of two business units. Some 3,900 positions, or 1.5% of its global workforce, are expected to go. The move will cost IBM\n \n about $300 million this quarter, a spokesperson confirmed. SAP\n \n , Europe’s largest software company, will lay off 2.5% of its global workforce of 112,000, or around 2,800 employees, according to an earnings report published Thursday.

An IBM spokesperson told CNN on Wednesday that the company’s cuts were related entirely to the reorganization of the two business units affected, “not an action based on 2022 performance or 2023 expectations.” The units affected 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.

Recession is at the door.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IBM is cutting 3,900 jobs | CNN BusinessIBM has become the latest tech giant to slash thousands of jobs, with 3,900 positions, or 1.5% of its global workforce, expected to be eliminated. IBM is still around? The name always had a pioneer feeling to it, respected but out of date. I obviously have no clue what I'm talking about. Bidens' economy. IBM fires nearly 4,000 jobs. Let me remind that world during WW2, IBM collaborated with Nazi Germany
Source: cnni - 🏆 326. / 59 Read more »

IBM to cut 3,900 jobs as it reorganizes businessIBM will slash some 3,900 jobs, slightly more than one percent of its workforce, related to businesses it has divested
Source: trtworld - 🏆 101. / 63 Read more »