IBM cutting thousands of jobs in the fourth quarter

Core Insights - IBM plans to lay off a small percentage of its workforce in the current quarter, specifically indicating a low single-digit percentage impact on its global workforce [1] - The company anticipates that U.S. employment will remain flat year over year despite the layoffs [1] - As of the end of 2024, IBM had 270,000 employees, meaning a 1% reduction would equate to approximately 2,700 job losses [1] Industry Context - Other technology companies are also reducing their workforce as they seek to enhance productivity through increased reliance on artificial intelligence tools [2]