Clicky

  • Login
  • Register
  • Submit Your Content
  • Contact Us
Saturday, August 24, 2024
World Tribune
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
Submit
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food
No Result
View All Result
World Tribune
No Result
View All Result

IBM is cutting jobs in marketing and communications

March 12, 2024
in News
Reading Time: 3 mins read
A A
IBM is cutting jobs in marketing and communications
0
SHARES
ShareShareShareShareShare

READ ALSO

Meta says WhatsApp accounts tied to Iran hackers targeted Biden, Trump

Workday stock gains as software provider widens 2027 margin target

POLAND – 2023/09/11: In this photo illustration, IBM logo seen displayed on a smartphone with Artifical Intelligence (AI) symbols in the background. 

Omar Marques | Lightrocket | Getty Images

IBM on Tuesday told employees in its marketing and communications division that it’s slashing the size of its staff, according to a person with knowledge of the matter.

Jonathan Adashek, IBM’s chief communications officer, made the announcement in a roughly seven-minute meeting with staffers in the unit, said the person, who asked not to be named because the news hasn’t been made public.

In December, IBM CEO Arvind Krishna told CNBC that the company was “massively upskilling all of our employees on AI,” after it announced a plan in August to replace nearly 8,000 jobs with AI. IBM said on its earnings call in January of last year that it was cutting 3,900 positions.

“In 4Q earnings earlier this year, IBM disclosed a workforce rebalancing charge that would represent a very low single digit percentage of IBM’s global workforce, and we expect to exit 2024 at roughly the same level of employment as we entered with,” IBM told CNBC in a statement.

The latest cuts come alongside another round of downsizing in the tech industry. So far this year, some 204 tech companies have cut almost 50,000 jobs, according to the website Layoffs.fyi. January was the busiest month for layoffs since March, as Alphabet, Amazon and Unity all announced job cuts.

IBM has returned to growth in the past couple years, but expansion remains muted. Revenue in the fourth quarter increased 4% from a year earlier even as earnings topped estimates. CFO James Kavanaugh spoke of workforce rebalancing on the earnings call.

The company has been trying to fit into the emerging AI narrative, which has been the big story across tech since OpenAI released ChatGPT in late 2022. In May, IBM announced WatsonX, billed as a development studio for companies to “train, tune and deploy” machine-learning models.

The book of business for generative AI and Watsonx products doubled in size from the third quarter of 2023, when it was in the low hundreds of millions, according to IBM’s earnings call in January.

IBM faces steep competition in the enterprise AI realm. Microsoft, Google, Amazon and others have similar offerings, and IBM has long been viewed as falling behind in the AI race, particularly when it comes to making money from its products.

“I think that’s a fair criticism, that we were slow to monetize and slow to make really consumable the learnings from Watson winning Jeopardy,” Krishna told CNBC in December. “The mistake we made was that I think we went after very big, monolithic answers, which the world was not ready to absorb.”

Nearly two years ago, IBM sold its Watson Health unit for an undisclosed amount to private equity firm Francisco Partners.

WATCH: AI spend is strong right now

IBM is cutting jobs in marketing and communications

Credit: Source link

ShareTweetSendSharePin
Previous Post

The System Shock remake finally hits consoles on May 21

Next Post

Wheel adds Mark Cuban Cost Plus, Talkspace and Health Gorilla to virtual care platform

Related Posts

Meta says WhatsApp accounts tied to Iran hackers targeted Biden, Trump
News

Meta says WhatsApp accounts tied to Iran hackers targeted Biden, Trump

August 24, 2024
Workday stock gains as software provider widens 2027 margin target
News

Workday stock gains as software provider widens 2027 margin target

August 24, 2024
‘More restrictive policy’ may still be needed
News

‘More restrictive policy’ may still be needed

August 23, 2024
Trump DJT stock could be sold within weeks
News

Trump DJT stock could be sold within weeks

August 23, 2024
Nestle CEO replacement not such a bad thing for investors: Analyst
News

Nestle CEO replacement not such a bad thing for investors: Analyst

August 23, 2024
Japan’s yen has seen wild swings this year — is it still a safe-haven asset?
News

Japan’s yen has seen wild swings this year — is it still a safe-haven asset?

August 23, 2024
Next Post
Wheel adds Mark Cuban Cost Plus, Talkspace and Health Gorilla to virtual care platform

Wheel adds Mark Cuban Cost Plus, Talkspace and Health Gorilla to virtual care platform

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

What's New Here!

2024 AFC West predictions: Chargers under new leadership

2024 AFC West predictions: Chargers under new leadership

July 30, 2024
Romania’s Ana Barbosu hints at discord with teammate after Olympic saga

Romania’s Ana Barbosu hints at discord with teammate after Olympic saga

August 22, 2024
OpenAI reveals its AI-powered search engine, SearchGPT

OpenAI reveals its AI-powered search engine, SearchGPT

July 26, 2024
Yankees hoping Gleyber Torres has turned corner after disastrous start

Yankees hoping Gleyber Torres has turned corner after disastrous start

July 27, 2024
Microsoft is dropping ads from Skype

Microsoft is dropping ads from Skype

July 31, 2024
Polish billionaire ‘Locker King’ weighs legal action against Meta over deepfake ads

Polish billionaire ‘Locker King’ weighs legal action against Meta over deepfake ads

August 14, 2024
Business betting on Trump win, c-suite advisor says

Business betting on Trump win, c-suite advisor says

August 15, 2024

About

World Tribune is an online news portal that shares the latest news on world, business, health, tech, sports, and related topics.

Follow us

Recent Posts

  • Meta says WhatsApp accounts tied to Iran hackers targeted Biden, Trump
  • Jets finally hoping luck breaks their way in 2024
  • New Food and Beverage Product Launches, August 19 – 23
  • Amazon will discontinue the Echo Show 8 Photos Edition’s main reason for existing

Newslatter

Loading
  • Submit Your Content
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2024 World Tribune - All Rights Reserved!

No Result
View All Result
  • Home
  • News
  • Business
  • Technology
  • Sports
  • Health
  • Food

© 2024 World Tribune - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In