According to the reports by a well-known publication, the tech giant IBM is planning thousands of layoffs very soon. Also, the layoffs are happening under the wraps the publication claims.
As to the allegation, there have been noteworthy losses in employment. An insider has reported that thousands of employees in the IBM Cloud division were impacted by "a massive layoff" that occurred recently. Employees were forced to sign non-disclosure agreements as part of the covert layoff process.
"Unlike traditional layoffs, this one was done in secret. My manager told me that they were required to sign an NDA not to talk about the specifics,” one insider told the publication.
Arvind Krishna, the CEO of IBM, stated last year that the company expected artificial intelligence (AI) to replace around 7,800 jobs, although he did not provide a timeframe for these changes. The study claims that analysts speculate that the true number of job cuts may be significantly greater than what IBM has officially reported, given past layoffs and the size of the company's present personnel.
IBM has admitted reducing its personnel, but it has downplayed how many people are being let go. The business disclosed a $400 million "workforce rebalancing" expense in its first-quarter 2024 earnings report, implying that layoffs are a component of its reorganisation plan.
