IBM says it will cut 3,900 jobs and posts 8th consecutive quarter of falling revenue.

IBM has announced that it will cut 3,900 jobs in the wake of falling revenue and a decline in customers' need for cloud computing services.<br><br>The firm's revenue fell 6% for 2023, the eighth consecutive quarter of decline.<br><br>The company's cloud business declined by 21% year-over-year, driving a 37% drop in quarterly profit.<br><br>There are concerns that cloud demand may continue to decline in 2024.<br><br>IBM is working to strengthen its AI capabilities, but has declined to give a revenue forecast for 2024.<br><br>The company plans to cut 3,900 jobs, primarily in its IT consulting division.<br><br>BBC Technology News.