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IBM is set to cut a small portion of its global workforce this quarter as part of a strategic realignment toward its fast-growing software and AI-led cloud business, according to an exclusive report by Reuters. The technology major said the move would affect a “low single-digit percentage” of its roughly 270,000 employees worldwide.

“We routinely review our workforce and rebalance accordingly,” IBM said in a statement on Tuesday, indicating the layoffs form part of its fourth-quarter workforce adjustments. While some U.S. employees may be impacted, overall headcount in the country is expected to remain steady year-on-year, the company added.

Under CEO Arvind Krishna, IBM has shifted its focus from legacy hardware to high-margin

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