IBM on Wednesday announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, dampening cheer around beating revenue expectations in the fourth quarter. From a report: Chief Financial Officer James Kavanaugh told Reuters that the company was still “committed to hiring for client-facing research and development”. The layoffs — related to the spinoff of its Kyndryl business and a part of AI unit Watson Health — will cause a $300 million charge in the January-March period, IBM said.

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Source: Slashdot – IBM Cuts 3,900 Jobs