Arvind Krishna, CEO of IBM announced today the start of an "orderly" wind-down of its operations in Russia.
On March 7th, IBM decided to suspend business operations in Russia due to the war in Ukraine.
During this time they have evaluated long-term options while continuing to pay and provide for employees in Russia.
As the war rages on and uncertainty about its long-term ramifications grows, the company will carry out an orderly wind-down of IBM's business in Russia.
Russia accounted for roughly 0.5% of IBM's total revenue last year, or $300 million out of its total revenue of $57.4 billion.
