International Business Machines Corp. (IBM) and Lam Research are all preparing for large layoffs. Last year, the biggest IT companies such as Alphabet and Microsoft announced massive layoffs, and the trend is expected to continue this year.
IBM has announced the shedding of about 3,900 employees, according to the company's president, Arvind Krishna, who spoke with cautious optimism about the company's future. Still, layoffs will continue.
According to Bloomberg, we are primarily talking about the "extra" employees left after the separation from IBM of Kyndryl and Watson Health. Lam Research, a semiconductor company in the United States, is reducing 1,400 temporary positions.
According to consultancy Challenger, Gray & Christmas Inc., Alphabet Inc., Microsoft Corp., Amazon.com Inc., and IBM collectively slashed about 44,000 employees in January.
The big tech business received big "dividends" from the growing online spending during the 2020 sanitary restrictions imposed around the world due to the COVID-19 epidemic. Today, many of the businesses that profited unexpectedly are frustrated by the pace of growth in an era of declining infection rates — stocks of tech leaders fell by tens of percent as consumer behavior resumed.
To reduce costs that are unjustified in the post-pandemic way of doing business, companies must adopt highly unpopular policies among their employees.
Employers in this Bloomberg table are laying off roughly 1,000 or more people, including Spotify (600), Luno (336), Unity Software (284), Silvergate Capital (200), Uber Freight (150), and other tech businesses.
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