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Business & Finance

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

Published August 26, 2024 Updated August 26, 2024 05:41pm
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By Reuters
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BEIJING: IBM will completely shut its China R&D operation, affecting more than 1,000 jobs, the US technology company said on Monday.

A spokesperson for IBM, currently the world’s biggest technology services company, confirmed earlier media reports in a statement to Reuters, saying “these changes will not impact our ability to support clients across the Greater China region.”

IBM shares soar to more than 10-year high on rosy AI outlook

The cuts come amid the company’s struggles with falling demand for its hardware and challenges in growth markets like China.

China jobs IBM technology sector Information Technology

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