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

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

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.

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

This article originally appeared on Gizmodo.