In case you missed this, IBM recently spun out a major piece of its managed infrastructure business as “Kyndryl”. This is about 90,000 people and revenue of $19B per year. Quite significant.
This is one of the ways that Large Established Organizations (LEOs) are dealing with digital transformation by splitting into (relatively) smaller independent units with a tighter focus to allow them to be more competitive in their own markets. But not without its challenges.
Here is tech focused commentary from CIO.com: https://www.cio.com/article/3632912/what-is-kyndryl-ibms-managed-infrastructure-services-spin-off-explained.html
Here is an investment view from the Motley Fool: https://www.fool.com/investing/2021/09/30/ibm-kyndryl-spin-off/