Thread regarding IBM layoffs

The best indicator of IBM's state

The best way to determine how bad things are at IBM right now is to look at attrition. There are always people leaving for various reasons, that's normal for any company. But to have as high attrition rates as we did in the past year? In the middle of a pandemic that all but destroyed the job market? Now that's telling.

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Post ID: @OP+1aXWweHP

10 replies (most recent on top)

Stop worrying about IBM's state, it's of no concern to a working stiff in the bowels of cubicle he-l. Look at how you can play the game, move to another "juicy" part of IBM.

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Post ID: @7bds+1aXWweHP

This is a very interesting article in that the CFO admits IBM bought Redhat for their go to market strategy. It’s all about IBM SW being offered in the new and improved Redhat container.

https://seekingalpha.com/article/4431271-international-business-machines-corporations-ibm-management-presents-jpmorgan-49th-annual

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Post ID: @5nfo+1aXWweHP

Put your Helmets on as the last week in May is about to get interesting restructuring wise. Good luck to all

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Post ID: @1pbh+1aXWweHP

Last year was truly an interesting year. As far as IBM goes I saw a lot of older people decide to leave and it has continued into this year. (talking in systems). These were people who worked hard and enjoyed their work most of the time.

when the pandemic wore on during 2020 many I now starting to realize there is more life than giving all your time to IBM. Many began talking to their CFPs about their ability to retire, now!

Some were on the T2R and decided to leave early (July 31, 2021 is when they had to leave)
Others were tired of being jerked around by mgt and decided to leave.
Some were told by mgt they would not get the next band, so they left after talking to their CFP

I hear talk that in Aug there may be another T2R offered. I do not know to which groups it will be offered.

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Post ID: @1tza+1aXWweHP

The target if they don’t acquire anyone is 160-180k for new IBM

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Post ID: @1mok+1aXWweHP

“Regretted attrition” at the VP level, that clearly shows you the total disconnect between the Senior leadership and the lower management…

For sure the layoffs will not only continue but increase. The next round is coming next week , week of 5/24. The company will have no more that 200-225K employees by the end of Q1 2022.

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Post ID: @rnc+1aXWweHP

Attrition is really bad... the VP of C&CS Automation (Al Martin) is tracking 'regretted attrition'... who would have thought IBM would come to that point!!!

Ridiculous!!

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Post ID: @qon+1aXWweHP

A lot of people exited the job market last year specifically because of the pandemic, especially women. For example, people who no longer had childcare or whose kids were remote-learning couldn't juggle that with a job.

So yes, I could easily be persuaded that attrition _everywhere_ was higher than normal, because for a lot of people, the fact that nobody was hiring was irrelevant. BTW, the current tightness in the job market is to some extent probably an "echo" of that. I suspect that a lot of people who stopped working because of childcare won't go back until August/September when their kids are back in school.

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Post ID: @izc+1aXWweHP

IBM has dug its own grave through poor leadership.

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Post ID: @tiq+1aXWweHP

The ideal turnover rate is about 10%. What is the attrition rate at IBM? Are we talking about voluntary or involuntary? We need a baseline to compare, some historical information, industry and US averages. Last year was an outlier, not a good one to start with, we need to go back a few years and see if there is a trend. What was the reason? Where there any acquisitions involved?
If you look at the numbers BLS puts out, the numbers are pretty high:

https://www.bls.gov/news.release/jolts.t16.htm

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Post ID: @ufl+1aXWweHP

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