IBM already suspended its business operations in Russia in March, but the company is now totally withdrawing from the nation. IBM, like other Western companies, participated in imposing sanctions on Russia for invading Ukraine.
Based on the updated Memo titled “Update on IBM’s Business Operations in Russia,” IBM chairman and CEO Arvind Krishna says:
“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.”
Krishna further said that this is a “natural next step” for what is going on in Russia, but made it clear that “our colleagues in Russia have, through no fault of their own, endured months of stress and uncertainty.”
Based on their sales of $57.4 billion last year, and Russia IBM only accounted for $300 million, IBM’s exit from Russia will have a little impact on their business operations.
It is still heartbreaking to learn that innocent employees have been affected by these sanctions; let us hope that everything will be OK soon.
