IBM, once an iconic tech giant, has announced layoffs as it attempts to adapt to AI, particularly in its HR sector. The company plans to focus on hiring in programming and sales roles, yet the broader context shows they are far behind competitors. Despite a slight revenue increase, IBM's overall performance is viewed as poor, with a significant market cap disparity compared to giants like Microsoft and Amazon. Overall, the article underscores IBM's continual decline in a rapidly evolving tech landscape and its struggle to regain relevance among industry leaders.
IBM has been one of the first tech companies to lay off workers because of AI, indicating that these layoffs will affect some HR roles while shifting focus to hiring programmers and sales staff.
IBM has suffered drastically in recent decades, with recent revenue growth seen as a victory, highlighting its deep decline amid rising competitors like Microsoft and Amazon.
IBM's market cap of $261 billion starkly contrasts the $2 trillion valuations of companies like Apple and Amazon, emphasizing its positioned struggles and irrevocable losses in large tech sectors.
With only 2% market share in cloud computing compared to giants like AWS and Microsoft, IBM's failures in key tech markets reveal its diminished status compared to once-dominant rivals.
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