IBM layoffs: Tech giant announces job cuts in marketing and communications division, says report
CNBC. Last year in May, the company's CEO Arvind Krishna had said that the company expects to pause hiring for roles it thinks could be replaced with artificial intelligence in the coming years.
Hiring in back-office functions — such as human resources — will be suspended or slowed, Krishna said in an interview in May 2023. “I could easily see 30% of that getting replaced by AI and automation over a five-year period," he had said.
IBM has joined list of 204 tech companies who announced job cuts this year. As per Layoffs.fyi website, so far 204 tech companies have cut jobs affecting 49,978 employees.
In January, Chief Financial Officer James Kavanaugh had said that IBM will likely spend the same amount on restructuring as it did last year, $400 million, when it reduced its workforce by about 3,900 jobs. However, the company continues to hire for certain positions and expects headcount to be about the same at year’s end, he said.
By the end of 2023, IBM had about 288,000 employees. (With inputs from Bloomberg)Milestone Alert!
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