IBM Layoffs 2018: What We Know About the Job Cuts

IBM (NYSE:IBM) announced a new round of layoffs that will potentially see thousands of workers lose their jobs.

IBM Layoffs
Source: IBM

The tech company said that it would be shedding the size of its staff by eliminating workers in various key areas. Here’s what you should know about the IBM layoffs:

  • Several workers at the company’s Watson, cloud and sales staff will lose their jobs.
  • These job cuts will take place in the U.S. and Europe, according to multiple reports from sources close to the matter.
  • It is unclear how many IBM layoffs will occur this time around as the company declined to comment on the reports.
  • We also don’t know if the job cuts are linked to a January 2018 report that noted the company planned on slashing 10,000 global technology services jobs.
  • IBM has been in hot waters lately as a report last week claimed that the company has spent the last five years cutting the jobs of more than 20,000 employees over the age of 40, potentially in an age bias scandal.
  • The company did not comment on the number or age breakdown of its job cuts and said its staffing procedures always follow the law.
  • The IBM layoffs are designed to help as part of a “talent rebalancing” strategy in order to accelerate several strategies such as the cloud, cognitive computing, Watson, mobile, social and security services.

IBM stock gained about 0.6% on Thursday.

Article printed from InvestorPlace Media,

©2022 InvestorPlace Media, LLC