"IBM stock today is trading 20% lower than when it was at its height a decade ago. Given its lackluster performance in important new sectors of the technology industry [AI], IBM should definitely be on the list of Dow stocks to avoid at this time."
https://www.msn.com/en-us/money/topstocks/3-dow-stocks-i-wouldn-t-touch-with-a-10-foot-pole/ar-AA1lw25l
Sorry for got to attach the article
https://seekingalpha.com/article/4658128-ibm-defying-massive-skepticism-as-it-surged-above-a-five-year-high
This article says IBM has changed its fundamentals since 2013 (the story above cites 2013 valuations and strategy), and deserves a reevaluation. Certainly the 30% return from May valuations is nothing to sneeze at
What does this have to do with layoffs.
If investors are sour, employees have to worry even more about layoffs and prepare for them, because making investors happier involves cutting the highest cost elements of the corporate cost structure (by which I do not mean the C-suite executives...).
There has never been a layoff at IBM, and there never will be. Layoffs imply an eventual return of the affected employees, which doesn't happen in most cases.
IBM has permanently dismissed employees over the years, mostly via RAs, in order to sufficiently massage the financial numbers so that stock prices remain high and dividends are paid. That strategy is faltering, for you can only starve yourself so much before it becomes unhealthy. The stock analysts recognize this fact.
What does this have to do with layoffs.