Kyndryl Holdings drops 1.79% after hours due to job expansion, despite solid SAP alliance news.

Kyndryl Holdings, Inc. experienced a 1.79% decline in after-hours trading. The downward move was influenced by news that Kyndryl has selected RISE with SAP and expanded its alliance, focusing on cloud migration and SAP services for SAP S/4HANA Cloud Private Edition. While the cloud services announcement might have initially signaled a positive shift, the fact that it comes with increased job cuts and a faster-than-expected reduction program, which led to a record-high operating profit, seems to have tempered investor optimism. The combination of cost-saving measures and potential short-term disruptions might have contributed to the after-hours price drop.