IBM SACKS THOUSANDS OF EMPLOYEES AS NEW CEO LOOKS FOR REVIVAL

Highlights

• IBM will cut some salaries till October 31, as executives are told to take pay cuts of 20 to 25 percent

• IBM is moving majority of its resources to the cloud

• IBM is offering subsidized medical coverage to all affected U.S. employees till June 2021

According to the sources, global tech giant IBM led by CEO Arvind Krishna has decided to fire thousands of employees in troubled....