IBM planning to cut about 10,000 jobs in Europe ahead of unit sale

Topics IBM | job cuts

The UK and Germany are set to be most impacted, with cuts also planned in Poland, Slovakia, Italy and Belgium
International Business Machines is planning to cut about 10,000 jobs in Europe in an attempt to lower costs at its slow-growth services unit and prepare the business for a spinoff.

 
The wide-ranging losses will affect about 20 per cent of staff in the region, according to people familiar with the matter. The UK and Germany are set to be most impacted, with cuts also planned in Poland, Slovakia, Italy and Belgium.




Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel