'IBM Is Slashing Jobs In Marketing And Communications' - CNBC
Portfolio Pulse from Benzinga Newsdesk
IBM announced job cuts in its marketing and communications division, as part of a broader trend of downsizing in the tech industry. The announcement was made by IBM's Chief Communications Officer, Jonathan Adashek, in a brief meeting. This move follows IBM's efforts to upskill employees on AI and previous job cuts announced last year. The tech industry has seen significant layoffs, with over 50,000 jobs cut across 204 companies this year.

March 12, 2024 | 7:15 pm
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IBM is reducing its workforce in the marketing and communications division, aligning with broader tech industry layoffs and its AI upskilling initiative.
The announcement of job cuts at IBM, particularly in the marketing and communications division, could lead to short-term negative sentiment among investors, as it reflects ongoing restructuring and potential cost pressures. However, this move is also part of IBM's strategic shift towards AI, indicating a long-term vision that might mitigate some immediate negative impacts. The broader context of tech industry layoffs could also influence investor perception, comparing IBM's actions with those of its peers.
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