IBM to let go of 2000 employees in a week's time as part of restructuring & advertises for 25,000 job openings!

Jun 11, 2019, 4:40 pm, by: Editor_@moGossipApp

As we know, from the year 2016 only, the New York-based multinational information technology company, International Business Machines Corporation (IBM), with a view to transferring its entire workforce towards cloud computing and other artificial intelligence operations, took an initiative to start cutting jobs in the US. The following year 2017 also faced additional reductions. According to recent information from the Wall Street Journal and CNBC, the company has confirmed that it will be laying off over 2000 employees within a week’s time. Shocking enough? Wait till you get to know the exact numbers. With a strength of about 340,000 employees, with this move of the company, 1% of people will have to wash their hands off their current jobs. Not only this, but the company has also made it a point that they will only let go of those employees whose performances are not quite competitive or up to the mark in the current scenario. The main focus of the company that gives a purpose to this decision is on high value IT market segments and also a realignment of the company’s business. According to the official statement from the company, the main motive is to reposition the team and also hiring efforts in critical areas that will be better for both the clients as well as IBM in the long run. IBM has not had quite a reputation in the overall technology sector for years. The revenue growth of last year was as less as 1% which surpassed the 6-year run of declining sales. In fact, later this year, IBM is expected to officially shut down the deal of $34 billion-dollar acquisition of Red Hat. It targets at creating a strong workforce pool in emerging advanced technologies. Hopefully, with this particular strategy where a large number of people would have to let go of their jobs within such a short span of time, the company and its business evolve and successfully meet the profit goals that have been set up. It is also expected to strengthen the resources in certain new areas. At present, it has around 25,000 job openings.