27.2 F
New York
Thursday, January 21, 2021

IBM [NYSE: IBM] Plans To Cut Down 20% Of Its Workforce

Must read

Haemonetics [NYSE: HAE] To Purchase Cardiva For An Upfront Payment Of $475M

Haemonetics Corporation revealed that the company has inked a definitive contract to purchase Cardiva Medical Inc. Under the contract, Haemontics will pay an...

Philips [NYSE: PHG] To Purchase Capsule Technologies For Cash Consideration Of USD 635M

Koninklijke Philip revealed that the company has inked a contract to purchase Capsule technologies. The company will pay a cash price of $636...

Thermo Fisher Scientific [NYSE: TMO] To Purchase Mesa Biotech For Approx. $450M In Cash

Thermo fisher scientific inc revealed that the company has signed a definitive contract to purchase Mesa Biotech. Thermo will pay a value price...

Shutterstock [NYSE: SSTK] To Extend Its Agreement With EPA

Shutterstock reported that the company renewed its exclusive contract with the European Pressphoto Agency. The extended contract is to distribute the visual content...

International business machines Corp. [NYSE: IBM] declared that the company is preparing to cut down 10,000 jobs in Europe which makes it’s 20% of the workforce to be affected. This cut down is going to be one of the largest hitting the United Kingdom and Germany the most. Belgium, Poland, Slovakia, and Italy will also be affected by it. The most impacted by this job cutdown will be IBM’s legacy IT staff.

Earlier this month, in a conference with European labor representatives, IBM declared its decision of job cut. The job cut is an effort to reduce the cost so the business can be prepared for a spinout. IBM took this decision so that it can focus on its hybrid cloud computing and artificial intelligence units.

More articles

Latest article

Tencent Music [NYSE: TME] To Purchase 100% Equity Interest Of Lazy Audio

Tencent Music Entertainment Group reported that the company has signed a contract to purchase 100 percent shares of Lazy Audio. Lazy audio is...

Desktop Metal [NYSE: DM] Inks Agreement To Purchase EnvisionTEC

Desktop Metal reported that the company inked a definitive contract to purchase EnvisionTEC. Desktop Metal will purchase EnvisionTEC for a total consideration of...

Sequential Brands [NASDAQ: SQBG] Partnered With Omega Apparel To Create A New Collection

Sequential Brands Group reported that the company has collaborated with Omega Apparel for its denim business. With this partnership, the company will develop...

Marathon Petroleum [NYSE: MPC] Appoints New CFO

Marathon Petroleum Corp. reported that the company has named Maryann T. Mannen as the CFO and Executive V.P of the company. Maryann has...

QUALCOMM [NASDAQ: QCOM] Announces To Purchase NUVIA For $1.4Billion

QUALCOMM Incorporated reported that its unit, Qualcomm technologies inked a contract to purchase NUVIA.  The company will purchase NUVIA for nearly $1.4B. The...

Trivago [NASDAQ: TRVG] Reported The Purchase Of Weekend.com

Trivago reported that the company has purchased Weekend.com. Weekend it just started based in Germany, its main aim is to provide stimulating getaway...

Arthur J. Gallagher [NYSE: AJG] Reports To Purchase 100% of The Bollington Wilson Group

Arthur J. Gallagher reported that the company has inked a contract to buy 100% of the Bollington Wilson group. Bollington is an insurance...

Grainger [NYSE: GWW] Reports Changes In The Executive Leadership

Grainger reported changes in its Executive leadership. The leading supplier and distributor of MRO products appointed Deidra Merriwether as the Chief Financial officer....