International Business Machines Corporation (IBM) has announced layoffs in its marketing and communications department, CNBC reported on March 12. No specific number of reductions has been announced at this time.
The report said Jonathan Adashek, IBM's chief communications officer, made the announcement during a brief meeting with the division's employees that lasted about seven minutes. A source, who requested anonymity as the information has not yet been officially released, shared the following insight: CNBC.
Last May, CEO Arvind Krishna said the company would pause hiring for roles it believes could be replaced by artificial intelligence over the next few years. In a May 2023 interview, Krishna said that hiring for back-office departments such as human resources would be halted or delayed. “You can easily imagine 30% of that being replaced by AI and automation in five years,” he said.
IBM joins a list of 204 tech companies that have announced job cuts this year.Street layoff.fyi According to its website, 204 technology companies have cut jobs so far, affecting 49,978 employees.
Chief Financial Officer James Kavanaugh said in January that IBM would likely spend $400 million on restructuring, the same amount as last year, when it cut about 3,900 employees. However, he said the company is continuing to hire for certain positions and expects headcount to be about the same at the end of the year. By the end of 2023, IBM will have approximately 288,000 employees.
(Information provided by Bloomberg)
Unlock a world of benefits! From insightful newsletters to real-time inventory tracking, breaking news and personalized newsfeeds, it's all here, just a click away. Log in here!
