IBM and Microsoft are laying off hundreds of employees in Russia as companies continue to exit and scale down businesses in the country
IBM suspended its Russian operations in March after the country invaded Ukraine, but employees were kept on the payroll. In aon Tuesday, chairman and CEO Arvind Krishna announced an"orderly wind-down" of business in Russia. The local workforce will be laid off, he said.
Krishna said during IBM's first-quarter earnings call in April that the company's business in Russia is"not large" and concentrated on high-end infrastructure and software, according to anMicrosoft, meanwhile, is significantly scaling down its business in Russia, a company spokesperson told Insider on Thursday. Microsoft suspended new sales and services in Russia in March, but is still servicing existing customers.