May 22, 2020
IBM cuts jobs around U.S. as new CEO looks for revival
IBM Ginni Rometty. Rometty remains IBM's executive chairwoman through the end of the year.
Krishna said in April at his first quarterly earnings call as CEO that the company will continue to eliminate software and services that don't align with IBM's top two focus areas for growth: cloud computing and artificial intelligence.
Once a household name for its personal computers, IBM shed its PC business in 2005 and has since become focused on supplying software services to big businesses, governments and other organizations. It worked to strengthen its cloud computing business under Rometty but has struggled to compete with top cloud rivals Amazon, Microsoft and Google.
Krishna spoke optimistically earlier in May about how the 110-year-old company could weather the pandemic.
"The fact that IBM has been here before gives me perspective and confidence," Krishna said at the Think conference for IBM clients and developers, held remotely this year. "I believe history will look back on this as the moment when the digital transformation of business and society suddenly accelerated."
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