Interfax-Ukraine

News about recent political developments in Ukraine, key Ukrainian economic news and major current events in the CIS and the rest of the world.

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IBM winding down Russia business

U.S. electronics corporation IBM is fully winding down operations in Russia and has begun laying off employees in the country, Reuters reported, citing a letter from company CEO Arvind Krishna to employees.

The memo was sent out last week, Reuters said. The decision was prompted by continued uncertainty amid the situation in Ukraine, the letter indicates.

The U.S. company had previously announced it was suspending operations in Russia.

According to an IBM spokesperson, several hundred employees work in Russia. The company intends to continue supporting its local employees, the letter said.

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