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Westchester-Based IBM Reports Losses, Possible Layoffs

Though IBM Corp. officials say the company is making gains in analytics and cloud technology, officials reported declining revenue for the 17th straight quarter, the Poughkeepsie Journal reports.
Though IBM Corp. officials say the company is making gains in analytics and cloud technology, officials reported declining revenue for the 17th straight quarter, the Poughkeepsie Journal reports. Photo Credit: Wikipedia

Even as IBM Corp. officials report that the Armonk-based global technology firm is making gains in the areas of analytics and cloud technology, concern is growing after the company posted revenue losses for the 17th straight quarter, and hinted at future layoffs, according to multiple reports.

The massive consulting and technology company with offices throughout New York, posted revenue of $20.2 billion for the second quarter, which is down about 2.6 percent from last year. However, Chief Financial Officer Martin Schroeter said some of the company's newer initiatives, such as data analytics and cloud computing, are starting to show progress, The Poughkeepsie Journal reports.

But officials did say they are looking at consolidating redundant job skills, which could mean that layoffs are coming. Most recently, the company laid off workers in Poughkeepsie, The Poughkeepsie Journal says.

Click here to read The Poughkeepsie Journal report .

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