Curated Content | Thought Leadership | Technology News

IBM and SAP are cutting thousands of jobs

They are the latest in the recent round of tech layoffs.
TNCR Staff

IBM and SAP have announced that they will be cutting thousands of jobs as they reorganize their businesses and brace for a significant economic slowdown. The news comes after other major tech companies such as Microsoft and Google parent Alphabet announced that they will be downsizing their workforces to combat the global economic outlook.

Why it matters: These layoffs, among others, mark a significant shift for executives as many leaders had prioritized holding onto their workforce after struggling to hire employees in a tight labor market the last few years.

  • IBM will be letting go of 3,900 staff and SAP will lay off 2,800 employees in total, costing both companies close to $300 million each this quarter.
  • Layoffs are increasing across the tech industry and are not expected to cease anytime soon.

Go deeper —>

×
You have free article(s) left this month courtesy of CIO Partners.

Enter your username and password to access premium features.

Don’t have an account? Join the community.

Would You Like To Save Articles?

Enter your username and password to access premium features.

Don’t have an account? Join the community.

Save My Spot For TNCR LIVE!

Thursday April 18th

9 AM Pacific / 11 PM Central / 12 PM Eastern

Register for Unlimited Access

Already a member?

Digital Monthly

$12.00/ month

Billed Monthly

Digital Annual

$10.00/ month

Billed Annually

Capture
My career was shaped by many, but Mr. Hampton had a profound impact on me as a young college student.

Would You Like To Save Books?

Enter your username and password to access premium features.

Don’t have an account? Join the community.

Log In To Access Premium Features

Sign Up For A Free Account

Please enable JavaScript in your browser to complete this form.
Name
Newsletters