IBM merges 13 APAC nations into one regional organization

IBM quietly reorganized its Asian affairs at the start of 2022, creating a region called ASEANZK that means big markets such as Australia and South Korea now report to a regional entity. ASEANZK (gesundheit) comprises the ten ASEAN member countries – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, …

[Yes Me]

Why bother?

"well positioned to capitalize on the broader growth opportunities in the region."

Or, combining a few small markets into a slightly larger one to reduce overhead? It's clear that the AU/NZ markets are utterly different from the ASEAN market, so my interpretation is that this is a slowly dying company doing some necessary consolidation.

I haven't seen 2021 data, but for 2020:

IBM NZ reported sales of $210.6 million for the year to 31 December, down from $257.9 million. Profit before income tax nearly halved...

(and that's in NZ$, so about US$140M).

So, hardly worth the bother... (Australia is a somewhat better picture, but their net profit there was only AU$89.7M.)