The Register: '20,000-plus staff' could face the chop in spin-off of IBM's IT outsourcing biz, says Wall Street analyst.
https://go.theregister.com/feed/www.theregister.com/2020/10/14/ibm_newco_spinof/
4 replies (most recent on top)
Expect a blood bath at NewCo and business put up for sale. Won’t be a fun place to work
Yeah my guess is that GBS is screwed. Their management is big on misleading employees on the actual status of the team and the company at large. Especially on the team I was on. I was 44 and let go "not because of performance, but because I wasnt a lead yet". Which makes 0 sense as I was told I would be a lead this year, received 3 pay raises last year due to performance and excellent checkpoint reviews all 5 yrs. Im happier now as I got a massive pay raise at my new job and am consulting at night also, so essentially making lots more money and a lot less stress than IBM and their short staff which meant juggling 5-6 clients at a time. I just feel bad for my friends who refuse to see whats happening....until its too late
GTS revenues last year were $26.4B. TSS revenues last year were $6.4B. Arvind said NewCo will be a $19B company. $1B in restructuring to cut 20K heads, just about adds up. The question is where does the other $1.3B in restructuring charges come from? GBS? Systems? IGF?
Long story short. I was laid off in June this year from GBS consulting on IBMs QRadar technical team from NA. Sounds like more big cuts coming from this perspective in the article. Man this is terrible, as I still have lots of friends stuck at IBM during this pandemic.