BEIJING (Reuters) – IBM will completely shutter its China R&D, with resulting layoffs affecting over 1,000 jobs, Chinese media outlet Yicai reported on Monday, citing a statement from the company.
IBM, the world’s biggest technology services company, did not immediately respond to a request for comment.
The decision comes amid the company’s struggles with falling demand for its hardware and challenges in growth markets like China.
(Reporting by Eduardo Baptista; Editing by Christopher Cushing)
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