Hold on to your hats IBMers , RA is coming.
19 replies (most recent on top)
If for argument's sake they have to cut $4B of payroll expense, I would assume that they divide by Business Unit their portion of cuts. Then each Business Unit would collect spreadsheet of all the payroll expense per employee, including total benefits costs. And last they would target the highest earners and spare only a few exceptions with Executive discretion.
Hold on to your hats IBMers , The sun is rising in the east tomorrow!!!!
Yeah GDP was provided last year to a select few... unfortunately it was provided as RSUs that only best after two years... that gives you a clear indication as to when, at the latest, you will get RAed.
We got bonus (GDP) last year.
So no bonus this year, Same as the last year.
From above and important for planning:
"$4B in restructuring charge was announced during the call last night. $3B in 2021 and $1B in 2022. If my calculations are correct there’s still some unrealized charges left from the $1.1B restructuring charge of 2020. History says $1B in restructuring usually equates to 10-15K heads. Do the math."
I too have learned to stay posted to our announced restructuring charges on quarterly earnings meetings with analysts. When agitated by many of this week's analysts scathing questions and insinuations on our earnings call, Jim K blurted out that we should remember it only takes 7B to run the company (payroll, etc) . 4B in addition to 1B restructuring! Yes, we do the math!
After Checkpoints are completed at the end of January, RA lists are expected to be finalized by management with 2 weeks. End of February is current target for notification. Not all orgs will participate, but no yet clear which ones will.
Don’t worry.. redhat is here to save the day right?
RA is coming? already happened to many of us like me last week.
But more on the way, yes I am sure of it.
This post is id–tic. Without substance it adds nothing other than to denigrate a company that is otherwise doing a great job denigrating itself, and thus it contributes nothing.
Thursday the 28.
I was RA on June 2020. All I can tell you is that life is much better outside IBM! I found another job with a 30% increase and yes, during the pandemic! IBM did not appreciate my skills. Be strong and do not let IBM intimidate you!
$4B in restructuring charge was announced during the call last night. $3B in 2021 and $1B in 2022. If my calculations are correct there’s still some unrealized charges left from the $1.1B restructuring charge of 2020. History says $1B in restructuring usually equates to 10-15K heads. Do the math.
The problem is this: When my son asks me what IBM makes, I murmur and say they make Mainframes that are great!
Normally you can project out layoffs after a quarter based on what is mentioned about specific expenses, forgot what its called at the moment, you know what i am talking about. Was a number given out ? from that we could project the number cut
Is that what you are referring to by the 4B ?
Posting that more layoffs are coming without more specifics is a bit like posting that the sun is going to rise in the east. Pretty useless without proper context, because everyone on this site knows more layoffs are coming at some point, so this post lacks useful information.
This is a way of life at IBM... layoffs will continue until there is revenue growth... the more the revenue goes down the more layoffs you will have.
Stop scaring us!!! LMAO
$4 Billion of RAs...