https://blockchainreporter.net/ibm-cuts-its-blockchain-team-down/?fbclid=IwAR06o-WUbRlHurbxl5cfl7Qi0oSPGVXOF82RoPmlUAy95h-FnckscgnNC0U
According to four insiders with knowledge of the issue, IBM cuts its blockchain team down and becomes a shell of its former to an almost insignificant level. According to one of the people, the number of jobs lost at IBM has increased as a result of the company’s failure to fulfill its revenue projections for the once-lauded technology by a factor of 90% this year. A source claims that IBM is now undergoing a significant reorganization.
As a result, the IBM blockchain team is going to be eliminated in the near future. The majority of IBM blockchain employees have since left the firm. According to a second source, the IBM blockchain subsidiary has fallen short of its revenue expectations for the past two years in a row by a significant margin. They noted that the expectations for enterprise blockchain were unrealistically high.
Besides, they added that IBM had not really been able to execute despite making a lot of pronouncements. In contrast, an IBM official refuted the allegations. IBM’s Director of Public Relations, Holli Haswell, stated that the IBM blockchain business is thriving and that the firm has restructured some of its leaders and business divisions in order to continue to drive growth. This is something that IBM does on an annual basis.