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Wednesday, May 18, 2022

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

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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.

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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.

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