IBM has announced plans to reduce its workforce by potentially thousands of positions in the fourth quarter as it shifts focus towards its more profitable software sector. Despite a 35% increase in its shares this year, the company has faced a slowdown in its key cloud software growth, raising concerns among investors about future performance. CEO Arvind Krishna said that the job cuts would represent a low single-digit percentage of the global workforce, which stood at approximately 270,000 employees at the end of 2024.
