International Business Machines Corp. expects to pause hiring for roles as roughly 7,800 jobs could be replaced by artificial intelligence (AI) in the coming years, CEO Arvind Krishna told Bloomberg News on Monday. Hiring specifically in back-office functions such as human resources will be suspended or slowed, Krishna said, adding that 30 percent of non-customer-facing…
IBM to Cut 3,900 Jobs Amid Tech Layoff Trend
Technology firm IBM plans on reducing its headcount by 3,900 jobs, the company announced Wednesday, while delivering better-than-expected fourth-quarter revenue results and joining a host of big tech companies that are also laying off employees. The layoffs account for roughly 1.5 percent of IBM’s total global workforce. The latest round of job cuts will focus…
Capitol Report (Oct. 6): Illegal Immigrants Bused to VP Harris’s Home; 1.2 Million Firearms Sold in September
A judge rules DACA is illegal. DACA, or Deferred Action for Childhood Arrivals, is the Obama-era program that shields certain illegal immigrants from deportation. What does this ruling mean for the current recipients and the future of the program? President Joe Biden addresses workers at an IBM plant in New York. What does he say about…
IBM Beats Quarterly Revenue Estimates, Warns of $3.5 Billion Forex Hit
IT hardware and services company IBM Corp beat quarterly revenue expectations on Monday but warned the hit from forex for the year could be about $3.5 billion due to a strong dollar. A hawkish Federal Reserve and heightened geopolitical tensions have driven gains in the dollar against a basket of currencies over the last year,…
Court Orders IBM to Pay $1.6 Billion to BMC in Lawsuit Involving AT&T
A Houston federal judge ordered International Business Machines Corp. to pay $1.6 billion to BMC Software Inc. for swapping in its software while servicing their mutual client, Bloomberg reports. The U.S. District Judge Gray Miller, after a seven-day non-jury trial, rejected IBM’s claim that their mutual client AT&T Inc., opted to switch software products on its own. The judge ruled…
IBM, Stride Rise; Netflix, Baker Hughes Fall
April 21, 2022
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NEW YORK—Stocks that traded heavily or had substantial price changes Wednesday: Netflix Inc., down $122.42 to $226.19. The streaming video giant lost subscribers for the first time in more than a decade and it expects those losses to accelerate this quarter. International Business Machines Corp., up $9.17 to $138.32. The technology and consulting company’s latest…
Is IBM Stock ‘A Place To Hide’ In Volatile Market? PreMarket Prep Crew Talks Big Blue
One former Wall Street darling that has been a serial underperformer during the greatest bull market of all time was the recipient of an upgrade Friday morning. That company is International Business Machines Corp, and it’s the PreMarket Prep Stock of the Day. Long-Term IBM Price Action IBM made its all-time high in February 2017 at…
This Day In Market History: World Chess Champion Defeats IBM Supercomputer
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened On this day in 1996, world chess champion Garry Kasparov defeated IBM chess-playing supercomputer Deep Blue. Where The Market Was The S&P 500 was at 647.98 and the Dow Jones Industrial Average stood at 5,503.32. What Else…
IBM Collaborates With Quebec Government
International Business Machines Corp. collaborated with the Government of Quebec. They look to further establish Quebec as a leading technology hub in the development of quantum computing, artificial intelligence, semiconductors, and high-performance computing through the launch of the Quebec-IBM Discovery Accelerator. The new technology hub focuses on developing new projects, collaborations, and skills-building initiatives in crucial…
IBM Acquired Sentaca for Undisclosed Terms
International Business Machines Corp acquired Sentaca, a leading telco consulting services and solutions provider. The financial terms of the transaction remain undisclosed. The acquisition will accelerate IBM’s hybrid cloud consulting business, adding critical skills to help communications service providers (CSPs) and media giants modernize on multiple cloud platforms, innovate, and transform their businesses. John Granger, SVP, IBM…
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