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IBM China responds to rumors of layoffs.

On August 26, IBM China responded to a reporter from The Paper, saying: "IBM will adjust operations as needed to provide the best services to customers. These changes will not affect our ability to support customers. Chinese companies, especially private companies, are increasingly paying attention to seizing the opportunities brought by hybrid cloud and artificial intelligence technologies. IBM's local strategic focus in China is to use our rich experience in technology and consulting to build teams with corresponding skills to help Chinese customers co-create solutions that meet their needs."

Earlier, there were reports that IBM would completely shut down its R&D department in China, involving more than 1,000 employees. On social media platforms, a netizen posted that the company shut down employee access to R&D and testing positions after get off work on Friday. Another netizen posted that after his access was shut down, he received an email from the company that a full-staff meeting would be held on Monday. The netizen replied on the 26th, saying, "The online meeting was over in three minutes, and R&D was shut down."

An employee who has worked at IBM China for nine years told The Paper that the compensation for this layoff is “N+3”.

Public information shows that IBM is the world's leading provider of hybrid cloud, artificial intelligence and enterprise services, helping clients in more than 175 countries and regions gain business insights from their data and simplify business processes. More than 4,000 government and corporate entities in key infrastructure fields such as financial services, telecommunications and healthcare use IBM hybrid cloud platforms and Red Hat OpenShift to achieve digital transformation.

It is reported that this year marks the 40th anniversary of IBM's entry into China. On August 22, the company also held the IBM China Enterprise AI Summit Forum. Hans Dekkers, General Manager of IBM Asia Pacific, said that in the 40 years since entering China, IBM has helped and witnessed many Chinese companies become industry leaders, and also gained valuable co-creation experience, talents and trust. In the new AI era, it will continue to deepen its presence in the Chinese market and build an open and vibrant AI ecosystem. "

On July 25, IBM released its second quarter 2024 financial results, with total revenue of $15.8 billion, up 2%, and 4% at a constant exchange rate, exceeding analysts' expectations of $15.616 billion; net profit of $1.83 billion, up from $1.58 billion in the same period last year, up 15.82% year-on-year. IBM continues to expect that the company's revenue growth rate in fiscal 2024 (excluding the impact of exchange rate changes) will reach 3% to 5% year-on-year.

As of the close of August 23, IBM rose 0.07% to $196.100 per share, with a total market value of $180.6 billion.