Layoffs Are Not Stopping, IBM Corp Fired 3,900 Employees, SAP Will Lay Off 3,000 Employees

After big tech companies like Google, Amazon and Microsoft, now IBM Corp and German software firm SAP have also laid off.
Layoffs Are Not Stopping, IBM Corp Fired 3,900 Employees, SAP Will Lay Off 3,000 Employees
Layoffs Are Not Stopping, IBM Corp Fired 3,900 Employees, SAP Will Lay Off 3,000 Employees.
Updated on

After big tech companies like Google, Amazon and Microsoft, now IBM Corp and German software firm SAP have also laid off. According to reports, IBM Corp has laid off 3,900 (1.5%) employees out of its total global workforce. At the same time, SAP has made a plan to lay off 3,000 (2.5%) employees.

Layoffs announced as part of asset disinvestment

IBM said it announced the layoffs as part of asset divestment. Actually, the company took this decision after missing its annual cash target in the fourth quarter. The company's chief financial officer, James Kavanaugh, said the company remains committed to hiring for clientfacing research and development.

IBM said the layoffs are related to the spinoff of its Kinderill business and a portion of AI unit Watson Health, which will take a $300 million charge in the January-March period.

SAP wants to focus on cloud business

At the same time, SAP has taken this decision of layoffs to cut costs and focus on its cloud business. The company says that it wants to strengthen its core business and has also planned a targeted restructuring program to improve efficiency.

There have been layoffs in many big tech companies

Before IBM and SAP, many companies in the tech industry like Google, Amazon, Meta (Facebook), Microsoft and Spotify have also made large scale layoffs due to cost cutting. According to a Bloomberg report, Spotify will announce the layoffs earlier this week. It is being told that Spotify may lay off 6% of its total workforce (9,800 employees).

Google will remove 12,000 employees

At the end of last week, Google's parent company Alphabet Inc announced that it would lay off 6% of its worldwide total workforce ie 12,000 employees. Earlier, Microsoft Corp announced 11,000 (5%) and Amazon laid off 18,000 employees.

Twitter fired 5,200 employees

At the same time, Meta, the parent company of the social media platform Facebook, laid off 13% of its total workforce i.e. 11,000 employees in November last year. Before Meta, Twitter had fired 70% of its total workforce of 7,500 employees i.e. about 5,200 employees. After the layoffs, only 2,300 employees are left in Twitter.

Layoffs Are Not Stopping, IBM Corp Fired 3,900 Employees, SAP Will Lay Off 3,000 Employees
Swiggy To Lay Off 8-10% Of Its Total Workforce Of 6,000 Soon

Related Stories

No stories found.
logo
Since independence
www.sinceindependence.com