IBM, SAP SE to cut thousands of jobs globally amid tech layoffs

Dow, EY also announce cuts

IT layoffs


IBM Corp and SAP SE have joined the list of global technology companies that are slashing thousands of jobs as their profits come under pressure from a slowing global economy.
American tech giant IBM delivered an upbeat annual sales forecast on Wednesday while announcing that it would eliminate about 1.5 per cent of its global workforce. The reductions will amount to a “ballpark” figure of 3,900, Chief Financial Officer James Kavanaugh said in an interview. The cuts will focus on workers remaining after spinning off the Kyndryl and Watson Health units and will cost the company about $300 million, he said. IBM still expects to hire in the “higher-growth areas,” Kavanaugh said.
IBM’s current headcount is 260,000, Kavanaugh said. That is about 22,000 lower than the figure disclosed for December 2021.

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First Published: Jan 26 2023 | 11:03 PM IST

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