IBM will begin an “orderly” wind-down of its operations in Russia, according to a memo from CEO Arvind Krishna that was released publicly today. The company suspended business operations in the country back in March, joining a wave of other Western companies that chose to either halt sales or pull out of Russia completely following its invasion of Ukraine. Despite no longer doing business in Russia, IBM kept paying its Russia-based employees. But US sanctions on Russian banks have made it harder for the company to pay its Russia-based workforce, Reutersreported last month.The wind-down means that IBM will also terminate the employment of its Russia-based workforce. “This process will commence today and result in the separation of our local workforce. Our colleagues in Russia have, through no fault of their own, endured months of stress and uncertainty. We recognize that this news is difficult, and I want to assure them that IBM will continue to stand by them and take all reasonable steps to
