IBM is completely leaving the Russian market
On June 7, 2022, IBM announced its complete exit from the Russian market. On March 7, the company suspended business in the region due to the war in Ukraine. Arvin Krishna, CEO of the company, writes about this in his corporate blog.
According to him, all these months the company has focused on the safety of its employees in the regions affected by the war. The decision to suspend the business was made to assess the company’s long-term prospects here, while continuing to pay salaries to Russian employees.
As the effects of hostilities increase, and uncertainty is growing due to the long-term effects of the war, the company’s management has decided to completely curtail business in the region.
«We see this decision as the right and necessary, and as a natural step after the suspension of our business operations», — writes CEO of the company.
This process will begin on June 7, 2022, in particular, IBM will lay off its employees in the region.
IBM also notes that employees around the world have donated $ 2 million to the International Committee of the Red Cross in connection with the war.
