IBM announces layoffs amid tech slowdown, to cut global workforce by 3,900

Quick Summary:

In its forecast, IBM said free cash flow in fiscal 2023 is expected to be $10.

Hybrid cloud revenue was $22.4 billion in 2022, up 11% from a year earlier.

Shares declined about 2% in extended trading after closing at $140.76 in New York.The stock increased 5.4% in 2022, one of the few major technology companies that gained value during the year.

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Article Details

Author / Journalist: Brody Ford | Bloomberg

Category: BusinessFinance

Markets: India

Topics: Billion Analysts Sales Kavanaugh Business Revenue Increased 2023 Expected Free

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-26 @ 06:59:00 (2 weeks ago)

News Timezone: GMT +5:00

Ranking: #100 (out of 9976 stories this day)

News Source URL: business-standard.com

Language: English

Article Length: 623 words

Reading Time: 4 minutes read

Sentences: 29 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 4799731

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 109 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #49

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