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 The name always had a pioneer feeling to it, respected but out of date.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

Singapore Singapore Latest News, Singapore Singapore Headlines

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

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 »

Live Nation exec will face lawmakers about Taylor Swift concert tickets fiasco | CNN BusinessLawmakers are set to grill top executives from the event ticketing industry on Tuesday after Ticketmaster's inability to process orders for Taylor Swift's upcoming tour left millions of fans unable to buy tickets or without their ticket even after purchase. Aren’t we facing a debt limit issue that should take precedence over something like this? SenSchumer WTH Seriously? You don’t have legitimate work that you can be doing for the American people? Kitchen table? Bread & butter issues? The price of eggs issues because that's what America wants...greedy politicians...pointing fingers at the greedy entertainment industry....don't worry that the President provided classified documents to his son to bilk countries for millions of dollars...nothing to see here...
Source: CNN - 🏆 4. / 95 Read more »