IBM: All Russian employees lose their jobs9. June 2022
IBM: All Russian employees lose their jobs
New York, 6/9/2022
IBM announced a “downsizing” of its Russian operations that will result in the layoff of its entire workforce working in Russia.
Following Russia’s invasion of Ukraine, IBM suspended its operations in the country but allowed Russian employees to remain on its payroll. About 400 employees will be affected by the layoffs.
In a post announcing the layoffs, IBM CEO Arvind Krishna assured Russian employees that the company would offer them support and make the transition as orderly as possible. “Our colleagues in Russia have endured months of stress and uncertainty through no fault of their own,” Krishna wrote in the statement.
U.S. sanctions on Russian banks have made it difficult for IBM to pay employees in Russia, Krishna told Reuters in May.
The suspension of Russian operations will not have a material impact on earnings, IBM told investors. IBM’s key clients in Russia include state-owned banks and energy companies.