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IBM announces first job cuts under new chief executive. The company is cutting an unspecified number of jobs in the first major workforce reduction under new Chief Executive Officer Arvind Krishna, The Wall Street Journal's Asa Fitch reports. A person familiar with the company’s plans said they are thought to affect several thousand people. The layoffs, which were earlier reported by Bloomberg News, affect several units of IBM, including its Global Technology Services division, which offers IT outsourcing. IBM had around 352,600 employees as of the end of last year
A challenging start. Mr. Krishna took over at IBM last month, facing the twin challenges of coping with the pandemic and reorienting a company that has suffered through several years of declining revenue and an anemic share price. In an interview with CIO Journal earlier this month, Mr. Krishna said he didn’t know how long the economic downturn would last and declined to predict whether the company would furlough employees or cut jobs.
A challenging start. Mr. Krishna took over at IBM last month, facing the twin challenges of coping with the pandemic and reorienting a company that has suffered through several years of declining revenue and an anemic share price. In an interview with CIO Journal earlier this month, Mr. Krishna said he didn’t know how long the economic downturn would last and declined to predict whether the company would furlough employees or cut jobs.