As posted here previously, IBM sold IBM Watson Health in summer 2022 and the new stand-alone (non IBM) company is called Merative. How do we get a separate listing on layoffs.com for Merative so info on recent layoffs at Merative can be shared?
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US healthcare tech company Merative to lay off around 100 workers in Dublin
https://www.thejournal.ie/merative-ireland-layoffs-redundancies-6162536-Sep2023/
Merative has shut down the whole Phytel division starting in May. Over 50 people were given notice with the usual 3 months pay, health for 3 months and transition services. Existing clients of Phytel were notified by letter they have until the end of the year to find another vendor before access is shut off for them. Merative management held the usual Office Hours with crocodile tears about how difficult a decision this was. However, they immediately turned off all company access for us and no way to say goodbye to coworkers. Heartless and gutless.
The Register - Now IBM Watson Health, sorry, Merative decimates staff
And jobs shift offshore, says source
"A spokesperson for Merative declined to comment, stating in an email, 'Merative does not discuss rumors. We are focused on investing in our six core product lines and aligning our organization with our strategic plan for long-term growth.'
We note that's not a denial of what we've been told."
"We're told those being trained were 'off-shore people.' Merative's former owner, IBM, is known for shifting roles offshore, where labor costs are less."
https://www.theregister.com/2023/02/23/merative_job_cuts_ibm_watson/
Somebody needs to post this on Linkedin and tag @ Merative
The selloff of individual units has started - Top 100 sold to Premier
https://www.beckershospitalreview.com/digital-marketing/merative-the-former-ibm-watson-health-sells-100-top-hospitals-program.html
Merative, formerly IBM's health data arm, lays off 250 people: Reports --
https://www.beckershospitalreview.com/digital-health/merative-formerly-ibms-health-data-arm-lays-off-250-people-reports.html
The individual who laid me off said it was 12.5% rate for the layoffs, about 150 people. He stated there were only 1000 people employed and the rest were contracted.
Anyone willing to share what the package was?
I know of a number of folks in Merative Sales and Sales Support who were hit too.
@2mbw+1kRQHRcw Do you (or anyone) have a current best estimate (guesstimate) of the workforce size now in Merative?
2mbw+1kRQHRcw
Went pretty wide, Dev, OM, Ops, Fin, to name but a few.
What groups were affected other than Marketing?
Unfortunately, I was part of the group laid off by Merative today. Current role: Senior Growth Marketing Manager YOE: 7
: @ujn+1kRQHRcw, there will be a hiring freeze coming shortly, if not already unofficially inacted.
All of this was not unexpected. Anyone working for Merative knew that there would be a realignment of resources to profitability at some point. I have heard that through portfolio planning, commonly known internally as three year planning, the business is right sizing the company for profitability of its products.
I would expect perhaps complete products and BU’s to be sold in the next 24 months as the business continues to react to the market.
I just checked right now, and Merative is listing only 29 open positions in the US on their "Careers" site. Um, that's not a lot for a company of ~3,000 people (or whatever the current number is).
Not much hope then for laid-off folks to find another position internally within 30 days.
Today's announced layoff is the second for Merative. There was another layoff in November where 100 people were cut. Some from that cut found new positions.
Big hit to a former Truven/MarketScan business unit - they let go all very senior people. Revenues were on a steady decline since the IBM acquisition .
How many people still work at Merative now (pre-layoff)? Like ~2,500 maybe?
Someone (not me) posted this earlier today in a forum on TheRegister site:
"Merative is picking up where IBM left off
I survived the transition to Merative but learned yesterday that Merative is following in IBM's footsteps and is cutting 150 people effective Feb 24th, so I'll be unemployed after 15 years. Before IBM, the company survived several rounds of ownership changes and was widely recognized as one of the leaders (if not THE leader) in healthcare analytics. IBM said Watson Health was never profitable - what did they expect? They brought all their acquistions in and increased salaries to match IBM standards but the existing contracts which went on for multiple years had no corresponding increase in revenue...so contracts that were formerly profitable became unprofitable, leading to cuts in staffing resources that led to failure to provide value to the clients. It doesn't take an economist or MBA to figure that out, but here we are. Now Merative is doing the same thing and will likely ki-l what's left of the old Medstat/Truven business unless someone gets a major wake-up call...if it's not too late."
Well for starters, since it's tangentially-IBM related, please share what you know here. We'd appreciate hearing.