IBM (IBM) announced the cuts Wednesday, saying they were related to the previously announced spinoff and sale of two business units. Some 3,900 positions, or 1.5% of its global workforce, are expected to go. The move will cost IBM (IBM) about $300 million this quarter, a spokesperson confirmed. SAP (SAP), Europe’s largest software company, will lay off 2.5% of its global workforce of 112,000, or around 2,800 employees, according to an earnings report published Thursday. The restructuring will cost between €250 million ($272 million) and €300 million ($381 million); the company’s shares were down 3.3% in Frankfurt.
Story Published at: January 26, 2023 at 03:35PM
Story Published at: January 26, 2023 at 03:35PM