So Ginni announced how great the quarter was, then explained the annual farce that is called a bonus to non execs. Another year of 'maybe next year'.
Top contributors will receive bonus in stock - guessing it will be in some type of restricted stock that vests later.
Top contributors sounds like back to the old PBC system - a curve of < 2% of non execs are 'top'
They likely will not need layoffs, given how many this will drive out.
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More like ... "Maybe next year........ NOW GET BACK TO WORK !"
They have to be doing this to force natural attrition and reduce the number of heads they have to roll. Nobody could ever possibly think this is a good idea for employee morale.
After turning 50 never received another raise. Nothing really surprising.
So I'm not even getting the usual 1-2% that I've been getting every year? Instead I might get a few shares of stock if I'm considered a "top contributor" (which sounds like one of those Black Friday $50 TVs where the store only has one, there will probably be like 10 people considered top contributors across all IBM).
Here's how the IBM bonus process works.
Senior execs: You have the most control of overall performance. Here's your bonus based on your individual "achievements" even though the the overall performance s—ed.
Everybody else: The only thing you can control is your personal contribution. Even if you did great, you get no bonus because of the overall performance.
All the new hires will be flipping through their IBM recruiting brochures where it says up to 10% bonus and quickly learning the annual checkpoint process means nothing, just a shame and process to justify your layoff. Way to k–l morale Ginni/IBM. Talent walking for sure. How much bonus did Ginni get?, millions
F— IBM!