IBM Layoffs: Employees Urged to Volunteer for Dismissal
IBM Layoffs: In Seven-Minute Meeting, Tech Firm Announces Layoffs Across Two Divisions
IBM is reportedly launching a new round of global job cuts, encouraging employees to voluntarily step forward for redundancy as the company aims to achieve a $3 billion annual run rate in savings by the end of 2024.
The ‘Resource Action,’ IBM’s preferred term for layoffs, shouldn’t come as a significant shock, as it was hinted at during a Q4 earnings call last month.
Described as a “transformative” initiative, the layoffs will primarily target positions in Europe, focusing on Enterprise Operations & Support (EO&S), Q2C missions, and Finance & Operations. Approximately 50% of IBM’s reduction goal is expected to impact staffing levels across Europe, with the company preferring voluntary redundancies over involuntary terminations for those wishing to remain.
The move is part of IBM’s effort to align its workforce with the skills most in demand, particularly in areas like AI and hybrid cloud.
