IBM is cutting 3,900 jobs | CNN Business

The company announced the cuts Wednesday, saying they were related to the previously announced spinoff and sale of two business units. The move will cost IBM\n \n about $300 million this quarter, a spokesperson confirmed. 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.

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 New York-based company also reported mixed earnings Wednesday, with revenue coming in slightly higher than expected but operating profit and free cash flow lower than projected. IBM shares slipped 2% in after-hours trade overnight.

Bidens' economy. IBM fires nearly 4,000 jobs. Let me remind that world during WW2, IBM collaborated with Nazi Germany

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 The name always had a pioneer feeling to it, respected but out of date.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.

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