IBM to close China R&D department, affecting over 1,000 jobs, Yicai reports

IBM will completely shutter its China R&D, resulting in layoffs affecting over 1,000 jobs, Chinese media outlet Yicai reported on Monday (August 26, 2024), citing a statement from the company.

IBM, the world's biggest technology services company, did not immediately respond to a request for comment.

The decision comes amid the company's struggles with falling demand for its hardware and challenges in growth markets like China.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
You might also like