Any updates here?
7 replies (most recent on top)
Freeze will continue until the now-ongoing redeployments are complete (enough).
That means
- - external hire freeze in particular
- - internal existing reqs cancelled or frozen allowing only key ones open (hundreds+)
Update: it’s not a freeze. It’s an ice age.
Freezes will continue until the stock price is high enough that the leaders at the top can buy their 4th lake house. They systematically add stress to break employees so we either A) leave or B) lash out and get fired for raising our voice or refusing additional workload.
What’s happening in a week with Kyndryl?
The Kyndryl spin-off wrap is coming in approx a week. Once you wrap on a spin-off, it usually doesn’t contribute to growth, but rather just becomes a part of the year over year comps. THUS IBM will have to figure out what the next restructuring piece they will play to show growth. The analysts were speculating on selling off “infrastructure” division except for enterprise (mainframe, enterprise power, and enterprise storage). That would be approx 2/3’s of infrastructure would be leaving. AK also speculated that the B to C (weather) might be in play. As far as layoffs, I suspect they will not happen as they are expensive, and IBM has already trimmed the excess manpower. Now if IBM were to focus on excessive management, YES layoffs could be possible, but IBM never looks inward when pressed. PIP’s on the other hand are cheap, and easy to measure (utilization) so that is most likely the way IBM will lean. If IBM can find a partner/buyer then a spin-off would make sense as IBM wants out of the HW/legacy SW/TSS business. AK has made it very clear that IBM’s future lies in Consulting, and SW. Enterprise HW is just a cost of doing business as that’s where IBM’s monopoly lives.
Layoffs are coming soon.
We had a long thread on hiring freezes - check it out here:
https://www.thelayoff.com/t/1iRujuo8
or here