Thread regarding IBM layoffs

Latest IBM layoffs dump 20+ year employees like yesterday's newspaper

This is a short post. IBM acquired 3 companies to form Watson Health. There was a wholesale layoff that dumped some of my friends who have been working for 20+ years in the last 2 weeks. The companies, Phytel, Truven and Explorys were stable profitable companies before IBM got there hands on them. Through a series of poor decisions by upper management this division has been sorely damaged.

The WSJ doesn't just publish hearsay. For management to continue to deny rumors of the iminent sale of Watson Health, as we here continue to hear touted, are just folly. The information came to the WSJ from somewhere, they didn't just make it up.

Mostly I feel bad for people and my friends who have devoted their careers to Truven, Explorys and Phytel to be dumped so unceremoniously.

It just sucks.

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Post ID: @OP+1aJgQqi3

7 replies (most recent on top)

@tkr+: IBM's executives don't care about fixing the company. All they care about is how much they can bleed it dry before bailing with a big fat golden parachute themselves.

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Post ID: @rqw+1aJgQqi3

@kha+: Yep, I bailed as soon as I could after the IBM acquisition of Truven was announced, and I warned as many of my coworkers at the time that I could to do the same as I had previously worked for IBM and I knew what a sh*tty company they were.

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Post ID: @egk+1aJgQqi3

@uxp+: Actually, even before that - before it became "Truven," it was Thomson Reuters Healthcare, and before that, simply Thomson. Things began going downhill when Thomson acquired Reuters yet the Reuters C-Suite began calling all the shots for some reason. Thomson Reuters then sold the division to the "shadow" VC firm known as Veritas Capital - and I say "shadow" because there is literally NOTHING online about them. But yeah, Thomson merging with Reuters was the beginning of the downward spiral.

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Post ID: @pbs+1aJgQqi3

In the case of Truven, things started going downhill after the acquisition by the private equity firm. The acquisition by IBM was just the nail in the coffin.

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Post ID: @uxp+1aJgQqi3

I was with Truven and it became apparent very quickly that this was not work out.

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Post ID: @kha+1aJgQqi3

No surprise here. IBM executives are excellent at fu----g up major decisions! They don’t know how to fix the company, one mistake after another!!!

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Post ID: @tkr+1aJgQqi3

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