MOUNTAIN VIEW (dpa-AFX) - International Business Machines Corp. (IBM) plans
to cut about 3,900 jobs or about 1.5% of its global workforce, according to
several media reports citing a company spokesman's interview.

The spokesman reportedly said the job cuts are a final step after asset sales
rather than a sign of weakness in its business.

The company reportedly expects to record a first-quarter charge of $300 million
tied the spinoff of its managed infrastructure business, Kyndryl, and the
divestiture last year of its Watson health-care unit.

While announcing its fourth quarter results earlier today, IBM said it expects
full-year 2023 constant currency revenue growth consistent with its mid-single
digit model, and about $10.5 billion in consolidated free cash flow, up more
than $1 billion year to year.

Many major US tech firms recently announced job cuts or hiring freeze amid the
slowing growth. Alphabet Inc., the parent company of search giant Google, plans
about 12,000 job cuts, while Microsoft announced 10,000 job cuts, Amazon 18,000
jobs or about 6% of its workforce, and Facebook parent Meta around 11,000 roles.



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