IBM Blockchain Is a Shell of Its Former Self After Revenue Misses, Job Cuts: Sources

BM has cut its blockchain team down to almost nothing, according to four people familiar with the situation, Job losses at IBM (NYSE: IBM) escalated as the company failed to meet its revenue targets for the once-fêted technology by 90% this year, according to one of the sources. “IBM is doing a major reorganization,” said a source at a startup that has been interviewing former IBM blockchain staffers. “There is not really going to be a blockchain team any longer. Most of the blockchain people at IBM have left.”