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What will be the primary reason cited for IBM's R&D department shutdown in China by the end of 2024?
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Resolution / Starting Odds
Cost optimization • 25%
Strategic realignment • 25%
Geopolitical tensions • 25%
Other • 25%
Official IBM statements or credible news sources
Story
IBM Shuts Down China R&D Department, Impacting 1,000+ Jobs Across Beijing, Shanghai, Dalian
Aug 26, 2024, 08:36 AM
IBM is shutting down its research and development (R&D) department in China, affecting over 1,000 employees across Beijing, Shanghai, Dalian, and other locations. The decision is part of a strategic realignment towards higher-margin businesses such as cloud computing and artificial intelligence, as well as cost optimization. The company plans to shift some R&D functions to overseas locations, including Bengaluru. Despite the closure, IBM assures that its ability to support clients in China will not be impacted. This move is seen as part of a broader trend of U.S. technology companies retreating from the Chinese market. Employees affected by the closure are reportedly offered a severance package of "N+3."
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Increase investment in other areas • 25%
Further downsizing • 25%
Partnerships with local firms • 25%
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Reassigned within IBM • 25%
Laid off with severance • 25%
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Economic downturn • 25%
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Restructuring • 25%
Economic downturn • 25%
US software ban • 25%
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Technical issues • 25%
Shift to new model • 25%