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Equity Bottom-Up

International Business Machines / Equity Bottom-Up

<ul><li>IBM Corp. is shutting down two major research and development (R&amp;D) units in China, amid declining business in the country and mirroring a broader trend of U.S. tech firms scaling back their presence in China.</li><li>The units affected by the pullback are IBM’s China Development Lab (CDL) and China Systems Lab (CSL), both established in 1999.</li><li>CDL, which focused on application software development, has more than 1,000 employees, while CSL, which focused on system development such as mainframe database, has a team of 695, one IBM worker told Caixin.</li></ul>

IBM Corp. is shutting down two major research and development (R&amp;D) units in China, amid declining business in the country and mirroring a broader trend of U.S. tech firms scaling back their presence in China.The units affected by the pullback are IBM’s China Development Lab (CDL) and China Systems Lab (CSL), both established in 1999.CDL, which focused on application software development, has more than 1,000 employees, while CSL, which focused on system development such as mainframe database, has a team of 695, one IBM worker told Caixin.

IBM Pulls R&D Units Out of China in Latest Withdrawal by U.S. Firm 