Jerry Cuomo, vice president of IBM Blockchain Technology, in his statement to the website made it clear that IBM is still very much interested in blockchain and blockchain division has not seen the brunt of the job losses. A simple search on Google for blockchain jobs at IBM reveals that the company is still expanding its blockchain team all over the world.
The company is hiring developers everywhere, in fields like analytics, security and blockchain, which the once computing giant thinks will be the future as well as cash cow for the company.
Blockchain skills are the priority… And we’re full-steam ahead of blockchain. We plan to grow for a very long time.
A report earlier this month revealed that the tech giant IBM was laying off more than 1,700 employees due to restructuring. The word around the street was that the IBM blockchain division might get affected the most as the division has faced a lot of criticism over the years. However, it was reported that a very small percentage of the employees laid off during the June restructuring of the company were from the blockchain division.
Sources close to the blockchain division who say that a “very tiny, tiny percentage” of the team from blockchain was affected. The emphasis on ‘tiny’ points to the fact that the blockchain division has indeed seen only a few people lose their jobs as the source said:
The product team had no layoffs, there was nothing out of development. It was very limited on the blockchain side.
The layoffs have been described as a realignment plan by the company’s representatives who said that the company is getting rid of some redundant positions; however, the engineering team remains intact.
IBM has recently reinvented itself and the company is investing capital into data analytics and security service development. Blockchain is the new addition to IBM’s vision, one which the company is betting on to pay off big. A company spokesperson said:
We are continuing to reposition our team to align with our focus on the high-value segments of the IT market, and we also continue to hire aggressively in critical new areas that deliver value for our clients and IBM
IBM has been making a lot of money through the blockchain consultation business. The company developed its blockchain services arm quite early in the blockchain boom in 2017, and since then has been providing consulting services to companies to move into crypto. IBM’s enterprise blockchain is being used by companies all around the world to create smart supply chains and data solutions.
The engineering and other teams involved in the core consultation business of IBM have not seen any layoffs; however, the reports suggest some people in the blockchain division have lost their jobs.
A major job cut may still happen at the blockchain division as the $34 billion acquisition of the software company Red Hat by IBM closes. The acquisition once closed will add 13,000 developers in the IBM team creating a surplus of developers at IBM.