Had a very brief meeting yesterday with HR where they announced the folks on the call would all be moving to the 2F division in GTS. This is the division that was started a few years ago where they put a lot of PM's and DPE's. They only pay out a 3% match on 401K and do a quarterly bonus, not part of the yearly. The quarterly amts, if there is one are tiny. Like maybe a hundred dollars. The movement is effective as of Sept 10, 2020. Not sure how they picked who to move as there is a wide variety of folks impacted but also some who are not who are in the same roles, deptarments, etc. This will impact all the 401K match for 2020. So come Dec the match will only be at the 3% rate, not the 6% that everyone else gets. That is if I stayed employed until then. So GTS has seen thousands of headcount reductions, workload insanity and now this. Sadly I was not surprised this happened. Had been expecting it for awhile. Not sure how the company can get away with different benefits for different groups. ITS really is the lower class group of the company.
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So any details as to how many folks move to the 2F division and where they are located?
Welcome... happened to us a long time ago... :(
This certainly looks to be a benefit cut There are top tier players and then mid tier players
IBM uses the one foot in and one foot out strategy
Microsoft and Google use 6% of your salary with a 50% match up to the federal limits
Amazon uses a 4% of your salary with a 50% match up to federal limits
IBM uses 6% or 3% depending on where you live within the corporation
The 3% match seems to be aligning itself with the 2nd tier enterprises
Be thankful that you at least have a job!
Graph your ankles. Aravind and his team are continuing to execute the Ginni playbook.
GTS cut our 401k down to 3% match long ago. Cloud services
From the list of people on the call it seemed to be a wide range of jobs that were impacted. Quiet a few PM's, PE's, some out of the Dubuque and Columbia sites but really did not seem to be one set skill group. That is what's confusing. How did they pick or decide who to move this time. When 2F was first formed I had heard they said it was a pilot and that eventually all GTS would move that way. That was back in 2016 I think. So maybe its the continued move. I just think its wrong to make it effective late this year and have it affect the entire year.
Can you tell us where you reside in the GTS grand scheme on thing (Job responsibilities) Could IBM be setting GTS up for the ultimate split of perform vs cloud