IBM lays off 4,000 employees

The US technology company IBM announced that it will lay off about 4,000 people, which is 1.5 percent of the total workforce.

A new one has been added to the decisions of technology giants to remove workers.

IBM’s Chief Financial Officer, James Kavanaugh, announced that 3,900 people, 1.5 percent of the total workforce, will be laid off.

Explaining that the decrease in revenues is not the main reason for the layoffs, the company stated that the main reason is rising costs and slowing market conditions.

Under the influence of global inflation, the number of IBM’s employees had decreased by approximately 22 thousand people since 2021.

Another technology company, Google, shared with the public last week that it would part ways with its approximately 12 thousand employees. Software giant Microsoft has also announced that it will lay off 10,000 of its employees.

IBM’s revenue was flat in the last quarter of last year

According to IBM’s balance sheet for October-December 2022, the company’s revenue in the 4th quarter of last year remained unchanged compared to the same period of the previous year, amounting to 16.7 billion dollars.

The revenue of the company throughout 2022 was calculated as 60.5 billion dollars, an increase of 6 percent compared to the previous year. The US technology company generated $57.4 billion in revenue in 2021.