Technology firm IBM announced in a Tuesday news release that it had initiated laying off its Russian workforce over the country’s decision to invade Ukraine in February.
The company becomes one of a number of businesses that have suspended their operations in Russia over the globally-panned decision from Russian President Vladimir Putin, Axios reported.
“We chose to suspend operations so that we could evaluate longer-term options while continuing to pay and provide for our employees in Russia,” wrote IBM President and CEO Arvind Krishna on May 30.
“As the consequences of the war continue to mount and uncertainty about its long-term ramifications grows, we have now made the decision to carry out an orderly wind-down of IBM’s business in Russia. We see this move as both right and necessary, and a natural next step following our business suspension.”
According to Engadget, IBM has a number of customers in Russia, including federal banks, energy companies, and railways.
IBM halted providing “goods, parts, software, services, consulting and technology” to Russian companies after sanctions made it significantly more difficult, Reuters reported.
Russia accounted for about $300 million of IBM’s $57.4 billion revenue last year, according to IBM.
“We’re all learning as we go,” Krishna said in a Monday interview.