HP & IBM Lay-off Thousands of Employees Globally

HP & IBM Lay-off  – Both the companies have joined the league of companies who have started firing employees. IBM lay-off  thousands of employees globally due to Covid-19 business impact. Country wise data is not yet available.

They even did not disclose how many workers are affected but media reports said thousands of employees are set to lose jobs. The company confirmed the lay offs in a statement given on 22nd May.

Recognizing the unique and difficult situation this business decision may create for some of our employees, IBM is offering subsidized medical coverage to all affected US employees through June 2021, said a company spokesperson.While we always consider the current environment, IBM’s workforce decisions are in the interest of the long-term health of our business, said the company, adding that the highly competitive marketplace requires flexibility to constantly remix high-value skills.

Ars Technica reported that Both Hewlett-Packard Enterprise (HPE) and IBM have announced significant cost-cutting measures, including pay cuts and significant job losses. HP will cut salaries through October 31, with executives taking pay cuts of 20 to 25 per cent. IBM is moving as many resources as it can to the cloud.