Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

February 1, 2021 07:25 pm

IBM Blockchain Is a Shell of Its Former Self After Revenue Misses, Job Cuts

Ian Allison, reporting at CoinDesk: IBM has cut its blockchain team down to almost nothing, according to four people familiar with the situation. Job losses at IBM escalated as the company failed to meet its revenue targets for the once-fÃted technology by 90% this year, according to one of the sources. "IBM is doing a major reorganization," said a source at a startup that has been interviewing former IBM blockchain staffers. "There is not really going to be a blockchain team any longer. Most of the blockchain people at IBM have left." IBM's blockchain unit missed its revenue targets by a wide margin for two years in a row, said a second source. Expectations for enterprise blockchain were too high, they said, adding that IBM "didn't really manage to execute, despite doing a lot of announcements." A spokesperson for IBM denied the claims. "Our blockchain business is doing well, thank you," Holli Haswell, a director of public relations at IBM, said via email. "We have realigned some leaders and business units to continue to drive growth -- we do that every year."

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot