IBM shuts China research arm after lay-offs and revenue decline
IBM is shutting down IBM (China) Investment Company Limited, one of its major entities in China, after 32 years of managing local research and development. The company stated that the entity had "completed its mission" of development in China.
This decision follows lay-offs of over 1,000 employees at IBM's China Development Lab and China Systems Lab last year. IBM will continue operating in China through IBM (China) Company Limited, focusing on assisting local clients with hybrid cloud and artificial intelligence. The closure reflects a broader trend of Western tech companies trimming their Chinese businesses amid geopolitical uncertainties.
via SCMP Full Text Feed
IBM is shutting down IBM (China) Investment Company Limited, one of its major entities in China, after 32 years of managing local research and development. The company stated that the entity had "completed its mission" of development in China.
This decision follows lay-offs of over 1,000 employees at IBM's China Development Lab and China Systems Lab last year. IBM will continue operating in China through IBM (China) Company Limited, focusing on assisting local clients with hybrid cloud and artificial intelligence. The closure reflects a broader trend of Western tech companies trimming their Chinese businesses amid geopolitical uncertainties.
via SCMP Full Text Feed
