Thread regarding IBM layoffs

"This strategy is old as dirt at IBM. Executives have been doing it for decades. They rob from Peter to pay Paul. Is this case Paul is our Executive leadership."
And then fire Peter because targets were not met. We can be certain mainframe had a high percentage of dinos.
So they simultaneously filled their pockets committing securities fraud while executing discriminatory labor policies.
Great company! Should make everyone proud!

Was it IBM System Z Real-Time Fraud Detection Analytics that flagged this?...

They are going to pin it all on Shroeter

Here's the link to join the Class Action Lawsuit:

https://www.bernlieb.com/cases/internationalbusinessmachinescorporation-ibm-shareholder-lawsuit-class-action-fraud-stock-493/

Will it be a big blow to IBM, I think not. IBM's best lawyers will cut a deal, and IBM will say they have dismissed the guilty people, and that this was wrong and sacrifice a few people (who probably was going to retire anyway) ...

And then it will probably continue one way or the other.

We are many that know this has been going on for a very long time, and that everybody all the way up the chain of command knew about it, and even encouraged it.

IBM uses outside counsel for lawsuits. These same people namef in this securities fraud are also the ones who commandeered the age discrimination within the company. When the EEOC released the investigation results in 2020, that's when Rometty & Gherson left. Kavanaugh, named in the Kinney et al vs IBM lawsuit is still there. Why? Rimetty sits on boards of banks like JP Morgan & the Council for Foreign Relations etc collecting her multi millions while Gherson teaches at Harvard Biz School. (the irony). Their punishment should be having to look every single person they laid off & in the face while the families word vomit all over them. They should hang their heads in shame for all the lives they destroyed. I pray they suffer the way all these families have.

In addition, some of these "maneuvers" sacrificed long term profitable revenue streams, for short term (often heavily client rebated transactions) in order to generate "new" CAMSS business. I remember saying to myself I would not have done it with my own company money.

The really sad thing was that these shady actions were heavily promoted by people at the helm. In other words they enriched themselves while at the same time sacrificing the long term financial well-being of the company.

I hope the responsible people will be brought to justice and that this stops.

Author of the article here. If anyone familiar with this sort of thing wants to provide any further detail confidentially, feel to get in touch... tclaburn at theregister dot com

(1) z-linux licensing was one culprit to boost mframe sw results:

CAMMS (duplicate) product partno that was credited as "can run on mainframe" (using a mainframe Z IFL).. IFL not required as it could be "in the plans"
same argument was used for pseries "blades" on a mframe.. more CAMMS licensing opp

that was one version of "duplicate credit" for two brands.. the Mframe and the CAMMS brand, to inflate Mframe results with CAMMS ELA stuffing.

now to boost CAMMS with Mframe sw:

True mfrme only sw (profit-heavy Monthly licence charges) could be leveraged for boosting CAMMS thru purchase conversions , and assigning those converted products (like a CICS or DB2) as yet another CAMMS brand member.. ie nothing "strategic" but definitely a capital ingestion to assign.. IBM could push out the result MLC reduction results but the net on
MLC rev long term not good
https://watsonwalker.com/services/mlc-otc/

(3) re strategic growth

it is many decades since IBM had a sales comm metric of NNA (New Name Accounts)

Hahahaha!! So most of the cloud, ai bs that ibm propped up was just mainframe sw.

Ibm is just a mainframe company.

that’s not the only financial fraud going on inside IBM. Time to smell the roses

I have been saying it for years. GR is a POS. Stock buybacks to prop up the price instead of investing in the future, rampant age discrimination despite what that entitled Duke bi--h in HR had to say and financial engineering to enrich the greedy executives. GR is a terrible human being! BCG…what a fu----g joke!

https://mitsloan.mit.edu/ideas-made-to-matter/former-ibm-ceo-diversity-andg-discomfort-good-ideas

But there is no discomfort in using your position of power to steal from those that trusted you with that position

LOCK HER UP!!!!!

This strategy is old as dirt at IBM. Executives have been doing it for decades. Red Hat is the best example. They had to justify the hyperpremium price. So what was the easiest way? Load Atlas with Red Hat L30 codes, then tell the sellers to find one that fits without regard in anyway. Voile...Red Hat is selling like hotcakes. There are over 130 L30s for Red Hat and less than 30 for Websphere. So rob from Peter to pay Paul. Is this case Paul is our Executive leadership. So unconscionable. Must be illegal. Let's see some indictments!

I speculate financial engineering is ok to certain limited extent. I also speculate IBM has overstepped legal boundaries. As this is now out in the open, we will find out.

Will it be a big blow to IBM, I think not. IBM's best lawyers will cut a deal, and IBM will say they have dismissed the guilty people, and that this was wrong and sacrifice a few people (who probably was going to retire anyway) ...

And then it will probably continue one way or the other.

We are many that know this has been going on for a very long time, and that everybody all the way up the chain of command knew about it, and even encouraged it.

Executives stealing.... say it isnt so.

What about BCGs.

Absolutely this has gone on forever. WH was another example.

For many years portions of IBM Mainframe HW and SW revenue was (mis-)classified as Cloud revenue. Not only was it wrong, it also was downright stupid as it cost IBM millions in paid out bonuses (and not only to the top brass).

Orders from above I guess.

This fraudulent scheme has been the worst kept secret at IBM, and has been going on for years. Our team is still pressured to fudge the numbers this way.

Now that this is out in the open, my questions are: 1) will IBM be allowed to continue to perpetrate this fraud? and 2) will Wall Street penalize IBM by deflating the stock price?

I'm guessing the answers to my questions are: No; and No.

Ginni, Worst CEO at IBM. I would say worst since the beginning of the Information Age. Arguably worst of all time anywhere. She should be in shackles

IBM growing Strategic Imperatives (now Cloud, RH, etc) by reclassifying old legacy revenue as shiny new stuff revenue has been discussed endlessly here and elsewhere. Always the shills say no way this is happening. How else could new stuff revenue increase double digits while total revenue decreases same for 10 years straight?

Ginni needs to go to jail Claw back the bonuses and cancel any perks that can legally be cancelled. Ginni was and will continue to be the worst CEO of IBM No vision, no understanding of IBM’s innovation, but just in it for greed. She needs to go to jail

So mainframes were doing better than they admitted?

The complaint: https://regmedia.co.uk/2022/04/06/ibm_securities_fraud.pdf