IBM begins closing business, laying off staff in Russia: CEO Arvind Krishna

IBM has started an “orderly wind-down” of its business and laying off the workforce in Russia with its Indian-origin CEO Arvind Krishna saying the global IT giant will continue to stand by its employees in the country.

In early March, the New York-headquartered multinational technology corporation announced the suspension of its business in Russia after President Vladimir Putin ordered the invasion of Ukraine, prompting the West to impose crippling sanctions on Moscow.

The company on Tuesday issued an update on its business operations in Russia, saying it has made the decision to carry out an orderly wind-down of IBM’s business in Russia.