Controlling workload placement to manage wear of a component nearing end of life

A computer program product comprising a non-transitory computer readable storage medium having program instructions embodied therewith, the program instructions executable by a processor to cause the processor to perform a method comprising:

• tracking, for each of a plurality of workloads, a wear rate incurred by a component of a given component type as a result of processing an instance of the workload on a compute node that includes the component;
• determining a remaining lifespan for a plurality of components in a plurality of compute nodes;
• identifying a component from among the plurality of components having a remaining lifespan of less than a first threshold amount;
• identifying an instance of one of the workloads that needs processing and has a wear rate greater than a second threshold amount;
• and
• processing the identified workload instance on the compute node that includes the identified component.