IBM's Closure of China R&D Department Signals Major Job Losses
Monday, 26 August 2024, 00:38
IBM to Close China R&D Department
BEIJING (Reuters) - IBM will completely shutter its China R&D department, affecting over 1,000 jobs, as reported by Chinese media outlet Yicai on Monday. This significant decision alters IBM's presence in the fast-evolving tech landscape of China.
Reasons Behind the Closure
- Shifting operational strategies
- Cost-cutting measures
- Challenges in the local market
The decision represents a substantial retrenchment for IBM, highlighting challenges in maintaining a robust presence in competitive markets.
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