I would expect at the end of this month with similar terms as previous. Notified end of month and out by beginning of September. I say that because of the sales incentive they put out for Q2 had a stipulation "must be employed in September"
9 replies (most recent on top)
Word is end of August/beginning of sept for next round after reorg. Expect leadership changes.
1bts. Go back and look at the Gerstner years. He nuked 60k when he came on board. Yes he inherited a pretty big pile of problems. The numbers were 305k when he came on board, and 245 k Sept of the same year. The following year he disposed of several businesses, and had head count down to 220k. I expect AK to follow the same path. Approx a 20% across the board head count cut initially (given 350k heads Worldwide that results in 70k out the door On the initial implementation). Seems like we are on that path already. If the second phase comes, it would result in several businesses getting spunoff netting another 30k out the door during phase two. If the Gerstner playbook is being followed, That says IBM is aiming for a worldwide head count of 240-250k That aligns quite nicely with a previous posters speculation of 100k head count outside of India (150k)
I have no love for Krishna but he had a c-apshow dumped on him and he has to dig out of it. By the time he has a chance to implement his vision he will already be out the door.
This AK sure isn't a fresh and welcome addition. Has any new CEO at IBM drew this much blood (layoffs and firings) this soon into his tenure? So much for him being touted as the next Satya Nadella. More like Ginni, the next generation.
Expect end of Aug for if a 3rd Qtr RA is going to happen.
Always on a Thurs, so Aug 20th for 'RA Thursday' with 30 days notice and last work day Sep 21st. This gives Payroll to accomplish 90 day severance payouts week of Sep 28th and close out by end of 3rd Qtr.
Basically a repeat of May's RA timelines.
We'll see what on 2Qtr earnings call.
Just curious... is it typical for the RA's to be announced at the quarterly report... or is it roughly a month later that RA notices come out on "RA Thursday".
Have to admit, I'm not sure if RA Thursday is the "Your last day Thursday", or the, "You're being notified Thursday". Haven't paid much attention to it until recent times.
What is the typical package? 90 days to find a job / 30 days severance / they pay out your vacation time / match year to date on salary?
The answer to that perennial question is always SOON!
We’ll find out on AK’s earnings call on July 20.