Tuesday 22 October 2019

IBM to cut 2,000 jobs in new cull

IBM is laying off about 2,000 employees, according to reports, as the company reshapes its business. The move amounts to less than 1pc of if its workforce, which totalled 350,600 at the end of last year. Stock photo: Bloomberg
IBM is laying off about 2,000 employees, according to reports, as the company reshapes its business. The move amounts to less than 1pc of if its workforce, which totalled 350,600 at the end of last year. Stock photo: Bloomberg

Olivia Carville

IBM is laying off about 2,000 employees, according to reports, as the company reshapes its business. The move amounts to less than 1pc of if its workforce, which totalled 350,600 at the end of last year.

IBM confirmed that a "small percentage of employees" who are not performing "at a competitive level" would be leaving. "We are continuing to re-position our team to align with our focus on the high value segments of the IT market while aggressively hiring in critical new areas that deliver value for our clients and IBM,' the company said in a statement. 'The Wall Street Journal' and CNBC earlier reported on the job cuts.

Please log in or register with Independent.ie for free access to this article.

Log In

In 2016, the Armonk, New York-based company, started to cut jobs in the US as part of a strategy to shift its workforce toward cloud computing and artificial intelligence operations. It made additional reductions in 2017.

IBM has lagged behind the overall technology sector for years, with its 1pc revenue growth in 2018 breaking a six-year run of declining sales.

Bloomberg

Also in Business