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IBM Cuts Thousands of Employees in Latest Tech Layoffs

The employment layoffs follow the computer giant selling off pieces of its company.
IBM will cut 3,900 jobs.

IBM on Wednesday joined Microsoft, Google and other IT corporations that are reducing employment, announcing 3,900 people will be put off. The disclosure occurred during a conference call when the computer giant presented its financial results for 2022's fourth quarter, the company confirmed to CNET via email.

The layoffs are a consequence of its spinning out of technology services firm Kyndryl as a separate company and the sale of its health care data analytics business. The cutbacks equate to 1.5% of its employees.

Despite this, IBM's quarterly sales of $16.7 billion topped Wall Street's expectation, the New York Times said.

"The strategic transition we initiated two years ago is well underway. Ongoing high demand for our solutions underlines SAP's leadership in the global enterprise application market and the unique value of our cloud offering to help clients address their most urgent challenges, from enabling business agility to strengthening supply chains and operating sustainably.

Software major SAP also announced job layoffs, of up to 3,000 people, the company confirmed to CNET in an email. The layoffs equate to 2.5% of SAP's worldwide workforce.

The corporation employed roughly 111,015 workers last year, compared to 104,364 in 2021, the Wall Street Journal stated on Wednesday.

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