Reportedly, International Business Machines Corporation (IBM) is laying off employees and winding down its business in Russia. After Russia’s Ukraine invasion in February, IBM joined hundreds of other companies in suspending business in the country, while many others announced a complete exit from Russia.
“As the consequences of the war continue to mount and uncertainty about its long-term ramifications grows, we have now made the decision to carry out an orderly wind-down of IBM’s business in Russia. Our colleagues in Russia have, through no fault of their own, endured months of stress and uncertainty, I want to assure them that IBM will continue to stand by them and take all reasonable steps to provide support and make their transition as orderly as possible,” wrote Chief Executive Arvind Krishna.
Dow 30 component International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. To learn more about International Business Machines Corp (IBM) and to track its ongoing progress please visit the Vista Partners IBM Coverage Page.
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