IBM Australia Cuts 1000 Jobs, Reports 68% Drop In Profits

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IBM Australia's workforce has been cut from 6,463 to 5,489 people - a loss of almost 1000 jobs - following a 68 per cent fall in profit.

As reported by Business Insider, the figures were revealed in the company's latest financial report to ASIC.

IBM Australia's revenue fell by $320 million in 2016 when compared to 2015, and a 15 per cent decline goods sales saw that revenue drop to $820.91 million. Service sales also dropped by over six per cent.

Profit came in at $16.83 million. In 2015 it was $53.29 million.

The company has had a controversial year, with the ABS blaming the tech giant for the census debacle.

ABS Says IBM Screwed Up The Census

More details about exactly what lead to the Census website shutdown on 9 August have come to light — with The Australian Bureau of Statistics stating in a Senate inquiry IBM "failed to properly implement" geoblocking, leaving it wide open to denial of service attacks.

Read more

For more, see Business Insider Australia for all the details.

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