meaning ... Wall Street actually wants IBM to cut MORE! (Ouch! That's harsh)
"It seems as if the market is disappointed by the size of its announced job cuts, which only amounted to 1.5% of its workforce," said Jesse Cohen, senior analyst at Investing.com.
"Investors were hoping for deeper cost-cutting measures."
https://www.reuters.com/technology/ibm-reports-highest-annual-revenue-growth-decade-2023-01-25/
I expect "non landed re-deployed" to be part of the Q1 RA write off.
PIP's are cheaper than RA's
Wall Street always want more job cuts. They won't be happy till company's have only 1 person, the CEO.
AK has to address the weak sister in the room Distributed Infrastructure and especially infrastructure support Both are under-performers, non-strategic, and show no signs of turning around. If you separate out “enterprise” Power (3x the profit margin of scale out) then it really is exceedingly underperforming. Time to give them the GTS treatment
I think AK said it in early 2022, do probably a 1-year only moratorium.
Your memory is correct! He DID say that! (but he probably had his fingers crossed behind his back, while saying so).
Didn't Arvind say something about not doing RA?
And: "The layoffs ... will cause a $300 million charge in the January-March period, IBM said."
So that implies that the RAs will occur very, very soon.