TECH - Short-Seller Jim Chanos Questions 'No-Growth' IBM's Rumored Move To Cut Jobs: 'AI As Much A Risk... As It Is An Opportunity' | Benzinga
As a recent report flagged further job cuts at International Business Machines Corp. (NYSE:IBM), short-seller Jim Chanos on Sunday slammed the company for the rumored strategic action.
What Happened: The Register said in an exclusive report in late February that IBM asked its staff to put up their hands for voluntary redundancy as it seeks to eliminate more jobs globally, with Europe and a handful of departments likely the most impacted.
About 80% of the planned reduction was targeted at the Enterprise Operations & Support and Q2C missions, Finance & Operations, the report said.
Chanos questioned the need for job cuts. “More layoffs for the no-growth , trading at almost 30x true earnings. Incredible,” he said in a post on X, formerly Twitter. He also flagged AI as a risk for ...