- ALSO READ
Following a freeze on activities in Russia earlier this year, IBM CEO Arvind Krishna has informed employees that the company is ending all operations in the country and has begun laying off employees.
In a letter shared with the employees, Krishna stated that the company's focus for months has been on looking after the safety and security of IBMers and their families in impacted regions.
The company suspended operations back in March but kept employees on the payroll.
"We chose to suspend operations so that we could evaluate longer-term options while continuing to pay and provide for our employees in Russia," the CEO wrote in the letter.
"As the consequences of the war continue to mount and uncertainty about its long-term ramifications grows, we have now made the decision to carry out an orderly wind-down of IBM's business in Russia," he added.
He mentioned that the company sees this move as both right and necessary, and a natural next step following business suspension.
"This process will commence today and result in the separation of our local workforce. Our colleagues in Russia have, through no fault of their own, endured months of stress and uncertainty," Krishna said.
"We recognise that this news is difficult, and I want to assure them that IBM will continue to stand by them and take all reasonable steps to provide support and make their transition as orderly as possible," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, June 08 2022. 11:52 IST