IBM has announced that it will cut its workforce by 3,900, equivalent to 1.5% of its total workforce. This step is not related to financial indicators in 2022, but to the reorganization of two divisions.
The two affected units are Kyndryl, the IT infrastructure business that was formally spun off from IBM in November, and the healthcare analytics unit, which will be acquired by the investment firm, the process is ongoing.
Last year, IBM’s revenue was $60.5 billion, which is 6% more than in 2021.
The company’s market capitalization is $127 billion. The highest capitalization in the last 15 years was in 2012, over 240 billion dollars.
According to company estimates, the reorganization will cost about 300 million dollars.
Sources: CNBC, CNN
Photo source: Dreamstime.com
Source: Hot News
Mary Robinson is a renowned journalist in the field of Automobile. She currently works as a writer at 247 news reel. With a keen eye for detail and a passion for all things Automotive, Mary’s writing provides readers with in-depth analysis and unique perspectives on the latest developments in the field.