IBM (NYSE: IBM) declined to say whether the layoffs impact Austin operations. Translation: there will be significant impact to the Austin operations. https://www.bizjournals.com/austin/news/2023/01/26/ibm-joins-flood-of-tech-layoffs.html By:... — read more
IBM, SAP staff in India nervous due to layoffs There is nervousness among employees in SAP and IBM in India. Both companies have announced layoffs globally. It's not clear how many in India will be affected, but some sources say it could be... — read more
This is the only way they know to make the stock price go up. Lay off loyal American workers and replace them with folks from India. Fire workers in their 50's, get new hires and classify it as "technical vitality". This year I was screwed again with... — read more
I guess that's one way to make money... https://www.ciodive.com/news/IBM-hybrid-cloud-AI-strategy-growing-pains/641567/
I got cut way back in 2007. Best thing that ever happened to me. I got 4 months severance, my pension that they still had at the time and a nice cut from the overtime lawsuit. Never looked back. Looser company!
Don't forget that IBM 'redeployed' a bunch of people in December of2022.Those people have until the end of March to find a new job with in IBM. If they can't find a new job they are layed off.
After 22 years at IBM and another 19 years in various roles as an architect / developer / team leader as a customer and competitor, I decided to retire end of March. There were just too many things I no longer felt like tolerating anymore and I... — read more
Don't get me wrong, I am not saying the number is low, however, I was surprised that the number of employees who will unfortunately lose their jobs is not much higher than 3,900. This sounds to me like it's just the beginning. I wonder what else... — read more
I don't understand this at all. Company tops revenue estimates, but the leadership still decides to lay off employees. I would say it's just the leadership being greedy, nothing more.
Let me rephrase that, I don't give a flying fu-k about IBM and whether I'm going to be kicked out or not. I'm too old to worry about the things I can't change and I'm also experienced enough to know I'll be okay no matter what happens. I can find... — read more
If you were RA today please let us know: a. Country b. Division c. Age
The WARN Act requires an employer to notify employees, in writing, 60 days before a layoff, and pay the employee for those 60 days, in addition to any severance the employee may be entitled to. Unfortunately, some employers attempt to circumvent the... — read more
3900 from the Kyndryl and Watson units?
Not sure how many of you were aware but IBM has returned to the standard industry practice of matching 401(k) contributions in each pay period instead of doing so at the end of the year... — read more
I heard that consulting won't affected in this round of layoffs.
Although I don't find the announcement a surprise, it's quite nerve wrecking because I don't know when I will find out if I am affected. Any insights about when these cuts will take effect?
They joined the tech party.
meaning ... Wall Street actually wants IBM to cut MORE! (Ouch! That's harsh) "It seems as if the market is disappointed by the size of its announced job cuts, which only amounted to 1.5% of its workforce," said Jesse Cohen, senior analyst at... — read more
Any experienced folks here? When will RA notifications go out?
IBM to Cut About 3,900 Workers, Still Hiring in ‘Higher Growth’ Areas Company will cut about 1.5% of workforce, CFO Kavanaugh... — read more
IBM layoffs 3900 announced... IBM's shares deep red after hours looks like Wallstreet isn't impressed with the results and outlook. When Google's announced layoffs its shares jumped...
IBM also said it would take a $300 million charge in the first quarter related to “stranded costs” connected with the company’s divestitures of Kyndryl (KD) and Watson Health. That is a careful way of saying the company will do a... — read more
Right on cue ... https://finance.yahoo.com/video/ibm-tops-q4-earnings-while-212549297.html
ARMONK, N.Y., Jan. 25, 2023 /PRNewswire/ -- IBM (NYSE: IBM) today announced fourth-quarter 2022 earnings results. "Our solid fourth-quarter performance capped a year in which we grew revenue above our mid-single digit model. Clients in all... — read more
All other tech companies have completed their purges. When is our 2023 RA? Who'll be affected the most?
How long do you think it will be between the earnings report and a RA announcement? The same day? A week? I highly doubt it will take longer than that. There was certainly enough hiring of younger employees in the last year or so who can be gotten... — read more
Well it's that time of the Quarter again. Have your favorite booze-of-choice handy for Wednesday's Earnings Call, and have ONE shot (or swig) IMMEDIATELY upon hearing any of the following words / phrases: + "Currency headwind" + "Stranded... — read more
As posted here previously, IBM sold IBM Watson Health in summer 2022 and the new stand-alone (non IBM) company is called Merative. How do we get a separate listing on layoffs.com for Merative so info on recent layoffs at Merative can be shared?
New tactic in IBM on the RA front. You will be told your job is eliminated in the position you hold, but you can look for other positions (never find one). Then your manager or upline will call and tell you that you need to submit your resignation... — read more
Do you think this is legitimate and an actual chance to improve performance where needed, or is it just setting the groundwork for a layoff. What do you think about it, especially if you got a "Yes" for low performing.
How many Executives and C-suite occupants did IBM send to Davos? And how did they get there? Most assuredly, private corporate jet. As for CBDCs, IBM promoting shameless globalism, of... — read more
"When I talk to people and ask them about their business, they seem to think their business is OK," C***, now the vice chairman of IBM, told Yahoo Finance Live at the WEF this week. "So everyone here seems to think the other person has a problem. My... — read more
The analyst adds that he holds “a constructive view on IBM’s fundamentals despite an uncertain macro backdrop.” Sounds like this analyst is overpaid. . . https://www.barrons.com/articles/apple-stock-ibm-earnings-51673974072 By: Eric J... — read more
https://www.theregister.com/2023/01/18/ibm_sued_securities_fraud "Literally, a cabal of the worst of the worst got in charge of IBM and destroyed its reputation," Cummings said.