Latest news: IBM has requested its employees to voluntarily resign in a new round of global layoffs, with a significant portion of the layoffs occurring in departments such as human resources (HR).

It is reported that the reason for layoffs is due to the company's restructuring plan, rather than just financial pressure. IBM tactfully referred to it as a "resource action" rather than layoffs.

Most (80%) of the expected layoffs will target Enterprise Operations and Support (EO&S), Financial Operations, including CIOs (Information Supervisors), Procurement, Marketing and Communication, and Human Resources.

According to reports, this layoff will have the greatest impact on IBM Europe, with 50% of the layoffs occurring in mainland Europe. One-third of the layoffs will take place at IBM's international center in Bratislava, Slovakia, and the remaining portion will take place at its center in Hungary.

In January of this year, IBM CFO James J. Kavanaugh stated that the company's goal was to save $3 billion (£ 2.3 billion), which is one-third higher than the initial savings target.

An IBM spokesperson stated that in last month's fourth quarter financial report, IBM disclosed a labor rebalancing fee, which represents a low single digit percentage of IBM's global workforce. We expect employment levels to be roughly the same by the end of 2024 as when we entered. The driving factors for this rebalancing are the improvement of productivity and our continuous efforts to align our workforce with the skills that customers most need, especially in areas such as artificial intelligence (AI) and hybrid cloud

IBM announced a 4% increase in revenue for the fourth quarter, reaching $17.4 billion and operating profit of $3.75 billion. IBM had planned to save $2 billion in operating costs by the end of 2024, but has now expanded this goal to $3 billion.About The Author

This is reported by Top Components, a leading supplier of electronic components in the semiconductor industry. They are committed to providing customers around the world with the most necessary, outdated, licensed, and hard-to-find parts.

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