U.S. technology company IBM (IBM) says it plans to cut thousands of jobs worldwide in the current quarter.
IBM has not provided an exact number of jobs to be eliminated, saying only that it will layoff a small percentage of its employees.
However, IBM employed 270,000 people globally at the end of 2024. A 1% workforce reduction would represent the loss of 2,700 jobs.
The company said that it anticipates its U.S. employment will remain flat year-over-year, suggesting that most of the job cuts will occur outside of its home market of America.
IBM is the latest technology company to eliminate jobs as they seek to improve productivity by relying more on artificial intelligence (A.I.).
In October, Amazon (AMZN) announced that it is cutting 14,000 corporate employees, while Meta Platforms (META) said it’s A.I. unit would eliminate 600 workers.
IBM previously cut jobs in its hardware, software, and service provider units in March 2024.
The company has previously said that A.I. agents have taken over the work of about 200 people in its human resources department.
The stock of IBM has gained 37% this year to trade at $300.85 U.S. per share.
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