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IBM Sees Tech Spending Growth Unless a ‘Catastrophic Recession’ Hits

  • IBM continuing to hire as peers shedding thousands of jobs
  • Return-to-office rule is unlikely as US attendance at 50%
Arvind Krishna

Arvind Krishna

Photographer: David Paul Morris/Bloomberg

International Business Machines Corp. Chief Executive Officer Arvind Krishna said he sees technology spending continuing to grow despite fears over rising interest rates, inflation and labor constraints.

Unless there’s a “catastrophic recession,” corporate spending on technology should continue to increase, Krishna said Thursday during an event hosted by the Economic Club of New York. “As I talk to CEOs and CIOs across the globe, almost none of them are talking about cutting down technology spending,” Krishna said, adding that one point of caution is whether western Europe goes through a “major energy crisis.”