IBM, which announced 3,900 layoffs in January last year, is reportedly gearing up for further job cuts. This time, the company is implementing a different approach, encouraging employees to step forward and volunteer for layoffs.
As per The Register, IBM is urging employees interested in voluntary redundancy to express their willingness to leave the company. IBM is gearing up for another wave of job cuts in Europe.
In a Q4 earnings call last month, IBM referred to layoffs as a "resource action." The Register further adds that this initiative is being viewed as "transformative" rather than solely financial in nature.
IBM layoff 2023
IBM in January 2023 had announced that it will lay off 3,900 employees.
This came amid a wave of layoffs by tech companies that include names such as Google, Amazon, Microsoft, Spotify and more.
IBM’s layoffs came as it missed its annual cash target. IBM Chief Financial Officer James Kavanaugh had said that the company was still "committed to hiring for client-facing research and development".