> The cuts will focus on workers remaining after spinoffs of the Kyndryl and Watson Health units and will cost the company about $300 million, he said. IBM still expects to hire in the “higher-growth areas,” Kavanaugh said.
> Chief Executive Arvind Krishna has been trying to pivot Big Blue from its traditional business of infrastructure and information technology services to the fast-growing cloud-computing market.
Can't help but see all the layoffs as part of a "great refocusing", even with positive news for the company, you can use the fact that everyone is doing layoffs to reorient things. If everyone wasn't doing layoffs, people would worry about the company, and the news wouldn't be buried. Layoffs are just the tool companies suddenly have available to do this with (seemingly) no consequences to them