As per reports, International Business Machines Corporation (IBM) is planning to cut about 10,000 jobs in Europe affecting about 20% of staff in the region to lower costs at its slow-growth services unit and ahead for a spinoff of the business. The U.K. and Germany are set to be most impacted, with cuts also happening in Poland, Slovakia, Italy, and Belgium.
“Our staffing decisions are made to provide the best support to our customers in adopting an open hybrid cloud platform and AI capabilities. We also continue to make significant investments in training and skills development for IBMers to best meet the needs of our customers.” – an IBM spokeswoman said in an emailed statement.
IBM’s legacy IT services business will be the hardest hit, the unit is responsible for day-to-day infrastructure operations, such as managing client data centers and traditional information-technology support.
Earlier in October, IBM had informed that it’s planning to spin off the business and focus on its new hybrid-cloud computing and artificial intelligence unit, which the company hopes will return it to revenue growth.
IBM’s legacy in mainframe computing and IT services star has faded over the years as it lacked behind while newer technology firms like Amazon.com Inc. came in to dominate the emerging cloud-computing market.
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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