IBM cutting thousands of jobs, but why CEO is 'upbeat'

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The job cuts are related to Kyndryl, an IT infrastructure services business that was officially separated from IBM in November, and IBM’s healthcare analytics business, which an investment firm is in the process of acquiring. An IBM spokesperson told CNN that the company’s cuts were related entirely to the reorganization of the two business units affected, “not an action based on 2022 performance or 2023 expectations.”

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