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IBM Streamlines Workforce to Accelerate Growth in Software and Cloud Services
IBM plans to cut thousands of jobs this quarter as part of its strategy to focus more on growth in Software and Cloud computing, reflecting ongoing shifts in the tech landscape.
- IBM will reduce a low single-digit percentage of its global workforce this quarter to realign resources towards higher-growth areas such as Software and Cloud computing.
- The company’s workforce review is part of an ongoing strategy to adapt to market demands and accelerate growth, particularly in Artificial intelligence and related technologies.
- Despite the job cuts, IBMs shares have risen this year, indicating investor confidence in its pivot towards more profitable segments like Software and Cloud computing.
Why It Matters
This workforce reduction underscores a significant trend in the tech industry, where companies like IBM are increasingly prioritizing Software and Cloud computing to remain competitive. The shift may impact job markets and highlight the growing importance of Artificial intelligence in driving business strategies.