The Wall Street Journal: IBM announces layoffs, the first under new CEO

The Wall Street Journal: IBM announces layoffs, the first under new CEO

22 May    Finance News

International Business Machines Corp. is cutting an unspecified number of jobs in the first major workforce reduction under new Chief Executive Officer Arvind Krishna, who is trying to revive growth at the tech company.

Armonk, N.Y.-based IBM IBM, -1.86% said the cuts are aimed at making it more agile, but they come against the backdrop of a major economic slowdown triggered by a coronavirus pandemic that has caused many of its customers to dial back investments and hold off on big software deals.

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