IBM pulls out of Russia

IBM pulls out of Russia

Business news |
By Nick Flaherty

IBM has become the latest multinational electronics company to cease operations in Russia as a result of the conflict in Ukraine.

The company suspended operations in early March and is now closing down in the country, laying off its staff and closing its website.

“Our focus for months has been on looking after the safety and security of IBMers and their families in impacted regions,” said Arvind Krishna, Chairman and CEO of IBM.

“We chose to suspend operations so that we could evaluate longer-term options while continuing to pay and provide for our employees in Russia. As the consequences of the war continue to mount and uncertainty about its long-term ramifications grows, we have now made the decision to carry out an orderly wind-down of IBM’s business in Russia. We see this move as both right and necessary, and a natural next step following our business suspension.”

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“This process will .. result in the separation of our local workforce. Our colleagues in Russia have, through no fault of their own, endured months of stress and uncertainty. We recognize that this news is difficult, and I want to assure them that IBM will continue to stand by them and take all reasonable steps to provide support and make their transition as orderly as possible,” he said.

Staff at IBM have donated almost $2m to the International Red Cross to support aid operations.

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