IBM to close China R&D department, affecting over 1,000 jobs

Reuters

Updated August 26, 2024 at 7:18 a.m.·1 min read

BEIJING (Reuters) -IBM will completely shut its China R&D operation, affecting more than 1,000 jobs, the U.S. technology company said on Monday.

A spokesperson for IBM, currently the world's biggest technology services company, confirmed earlier media reports in a statement to Reuters, saying "these changes will not impact our ability to support clients across the Greater China region."

The cuts come amid the company's struggles with falling demand for its hardware and challenges in growth markets like China.

(Reporting by Eduardo Baptista and Fanny Potkin; Editing by Christopher Cushing and Louise Heavens)

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