IBM layoffs: Tech giant announces job cuts in this division in 7-minute meeting - Hindustan Times
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IBM layoffs: Tech giant announces job cuts in this division in 7-minute meeting

Mar 14, 2024 02:39 PM IST

The decision was reportedly disclosed in a seven-minute meeting by Jonathan Adashek, the chief communications officer at IBM.

IBM layoffs: International Business Machines Corp (IBM) reportedly announced layoffs without informing about the specific number of job cuts. IBM reportedly laid off employees in the company's marketing and communications division. The decision of layoffs was disclosed in a seven-minute meeting by Jonathan Adashek, the chief communications officer at IBM, with the employees in the department. CNBC reported IBM layoffs citing unnamed sources although the company did not release the information officially.

IBM layoffs: Figurines with computers and smartphones are seen in front of IBM logo. The company reportedly announced job cuts.(Reuters)
IBM layoffs: Figurines with computers and smartphones are seen in front of IBM logo. The company reportedly announced job cuts.(Reuters)

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This comes as the company's CEO Arvind Krishna said last year that IBM expects to pause hiring for roles which could be replaced with artificial intelligence (AI) in the coming years. Arvind Krishna said that hiring in back-office functions such as human resources will be suspended or slowed. He said, “I could easily see 30% of that getting replaced by AI and automation over a five-year period."

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Tech layoffs in 2024

Read more: Google layoffs: Employees in these teams may face job cuts amid Gemini row

At least 204 companies including IBM have announced job cuts in 2024 as per layoffs.fyi website. These layoffs have affected 49,978 employees.

Is IBM restructuring?

In January, IBM's Chief Financial Officer James Kavanaugh said that the company is likely to spend the same amount on restructuring as it did last year which was $400 million when it reduced its workforce by about 3,900 jobs.

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IBM's volunteer for layoffs call

IBM reportedly asked its employees who wish to opt for voluntary redundancy to step forward in layoffs that would target positions in Europe. A report in The Register said that the initiative taken by IBM is being viewed as "transformative" rather than solely financial and 80 per cent of the reduction target is directed towards Enterprise Operations & Support (EO&S) and Q2C missions as well as Finance & Operations.

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