Apparently, more than 32,000 workers in the U.S. tech sector have been laid off in mass job cuts so far this year. I'm kind of shocked that we're not included in that number yet but I have no doubts that our time will come sometime soon. I'm just wondering how much we're going to bump that number up this time.
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IBM was at the tip of the spear in reporting that currency and interest rates were going to impact earning well into 2023. Amazon announced 100k headcount reduction since April, Microsoft is after a billion dollar savings via hiring slow down and small head count reduction, and oracle says they are after a billion with almost exclusively head count reduction. Expect IBM’s fall plan to adopt a similar strategy, but with IBM being a largely body shop operation (consulting 140k) the desired results will skew towards 2 billion in desired savings
More companies are taking action. I expect IBM will also address some of their staffing needs too
https://finance.yahoo.com/news/microsoft-google-latest-tech-giants-232957843.html
They don’t need to layoff people anymore. They all left. Has anyone seen just how low quality the ‘all hands’ meetings have been? All internal bs projects, forged sales numbers, and cult-like repetition of ‘everything is great’.
I wouldn’t be surprised if IBM’s next acquisition is the Kool Aid brand. Drink up!
They dump that pile of useless sh!t red hat yet?
What a waste of money that was.
Perhaps not much, attrition + no backfills have taken about 30% of my division in the last 2 years. If we get hit by layoffs, keeping the lights on, will be impossible.
Oracle will layoff until they only have lawyers left.
Oracle is adding to that number as of today. They are trying to reduce costs by 1 billion. I would expect IBM to follow this trend
https://www.marketwatch.com/story/oracle-layoffs-have-begun-according-to-reports-2022-08-01
Biggest contribution was via Kyndryl split. At this point IBM is actually struggling to retain old and hire new employees. They will have another challenge related to Kyndryl contract. So on paper it will look like IBM is hiring and expanding.
That number seems to have come from here
https://news.crunchbase.com/startups/tech-layoffs-2022/
Maybe ~20,000