IBM Layoffs 2019: 12 Things to Know About the Job Cuts

The layoffs will hit roughly 1,700 employees

A round of IBM layoffs 2019 are on the way at the tech company.

IBM Layoffs 2019: 12 Things to Know About the Job Cuts
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Here’s what we know about IBM (NYSE:IBM) laying off employees.

  • The company is planning to lay off roughly 0.5% of its workforce.
  • The company’s total number of employees is around 340,000.
  • This means that the IBM layoffs 2019 will only be hitting about 1,700 employees.
  • This confirms talk of IBM layoffs 2019 that were spreading through unofficial sources.
  • Some of these talks were coming from TheLayoff.com, which is a forum focused on layoffs.
  • A company spokesperson says that these layoffs are part of its realignment plan.
  • IBM is looking to better focus on parts of the IT market that are high value.
  • It also notes that it is continuing to hire aggressively in new areas of its business that it is looking to grow.
  • IBM also has other plans for how to grow its business, outside of hiring new employees.
  • The company is also currently involved in a deal that will have it acquiring software developer Red Hat for $34 billion.
  • Red Hat will be bringing its roughly 13,000 employees with it when it joins IBM.
  • According to Martin Schroeter, Senior Vice President of Global Markets for IBM, the deal is about to reach its close.

You can follow these links to learn more about the IBM layoffs 2019.

IBM stock was up 1% as of noon Friday and is up 14% since the start of the year.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/06/ibm-layoffs-2019-things-to-know/.

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