IBM, the US-based global technology and consultancy company, has announced that it will reduce it's global workforce by 3900 employees. The job cuts will impact the company's spinoff Kyndryl business, which is part of the AI specific unit, Watson Health. IBM has reported the layoffs will cost the company €300 million for the Jan-March period. IBM has hit revenue targets, however the cuts are due to asset divestment and missed annual cash targets. There is no information on where the job cuts will occur or how the restructuring process will take place.
In 2022 business expansion have been recorded for IBM in the ERM Events database: 150 employees in Portugal (IBM-2022-PT), 100 employees in Croatia (IBM-2022a-HR) and 200 employees in Ireland (IBM-2022b-IE).