Kyndryl announces job cuts and cost overhaul as profit outlook disappoints analysts

Published on 6 May 2026

Profit guidance missed Wall Street despite steady IT demand

Kyndryl, a major software and IT services firm, has unveiled a new cost-saving plan alongside job cuts. The company expects annual pretax profit to come in below Wall Street estimates, with a goal of significantly lowering operating costs by fiscal 2028. Shares fell sharply on the news, even as demand for IT services remains resilient.

Kyndryl plans job cuts as part of a broader restructuring
Pretax profit forecast is expected to be below Wall Street estimates
Company targets major operating cost reductions by fiscal 2028
Shares dropped despite continued resilience in IT services demand

#earnings #it services #job cuts #kyndryl #cost cutting

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Kyndryl announces job cuts and cost overhaul as profit outlook disappoints analysts

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