IBM cutting thousands of jobs in the fourth quarter

Arvind Krishna, CEO of IBM, arrives for the Inaugural AI Insight Forum in Russell Building on Capitol Hill, on Wednesday, September 13, 2023.

Tom Williams | Cq-roll Call, Inc. | Getty Images

IBM said Tuesday that it will lay off a small percentage of its employees in the current quarter.

“In the fourth quarter we are executing an action that will impact a low single-digit percentage of our global workforce,” a spokesperson told CNBC. “While this may impact some U.S.-based roles, we anticipate that our U.S. employment will remain flat year over year.”

IBM employed 270,000 people at the end of 2024, according to its latest annual report. A 1% cut to headcount would represent the loss of 2,700 jobs.

Other technology companies have been slimming down lately, with executives looking for ways to improve productivity by increasing reliance on artificial intelligence tools.

IBM Q3 earnings results beat on top, bottom lines

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