IBM begins laying off its entire Russian workforce
or pull out of Russia completely following its invasion of Ukraine. Despite no longer doing business in Russia, IBM kept paying its Russia-based employees. But US sanctions on Russian banks have made it harder for the company to pay its Russia-based workforce,The wind-down means that IBM will also terminate the employment of its Russia-based workforce. “This process will commence today and result in the separation of our local workforce.
The company told investors that no longer doing business with Russia will have very little impact on its bottom line. “Russia is a very de minimis part of IBM,” the company’s finance head Jim Kavanaugh
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