The year 2023 is not a year that starts with a right move by technology companies. One by one began to make drastic workforce reductions to allow companies to reorganize their post-pandemic businesses. Today it's IBM's turn to lay off 3900 of their workforce globally, which is equivalent to 1.5% of the total number of employees.
The reduction is due to a lack of demand for the consulting services offered by the company. Although the company posted its highest revenue increase in a decade in 2022, it still cannot save the jobs of the staff it has dumped.
With this IBM follows the steps of Meta, Google, Amazon and Microsoft which cut tens of thousands of workforces during the pandemic. The question now is which tech company will do the same in the coming weeks.
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BUSINESS & MONEY