I heard another round is coming next quarter...
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By the beginning of 2021, the world will be very different from when these rightsizing plans were drawn up, so IBM may need a further couple of rounds after the one in Q4.
IBM is always skating to where the puck was.
I would venture myself to say that the goal of this round of layoffs was 50K worldwide. The next round will also be 50K worldwide to right size the company. It will come in 4Q.
AK wants to start 2021 in a strong position.
I heard 25,000 in the US
Post ID: @1gsl+156zz0A6
That what Trump supports!
Racism & Nepotism, both are nasty af and should not be tolerated at any company.
I heard from a American executive that it was allmost 20 percent of USA population of IBM but this person talks much when they don't always know.
I don't know how many IBM employee are in USA now. 50 thousands? 80 thousands? Who knows?
Unfortunately American luxury living and fear of technology math and engineering during educations means a less skilled work force demanding high pay. Some very best people I have worked with at IBM are American or immigrants to America but there are a great many also doing jobs that can be done the same in cheaper geography like mine. So capitalism system is doing as capitalism does when downturn happens and the powerful ones want to have their workers to do same work but spending less. It is a good system if worker cost is equal or similarly across the world but bad for Americans because they are highest cost for same or less skills.
I feel bad for Americans suffering this way with job loss during epidemic but when the racist comments are made I feel bad less. I know many good people are hurting and I wish those good people luck only and am sorry this has come to you.
They probably fired your a– for being racist.
The restructuring charge is 900M. At a cost, conservatively, of 45K per employee, (+/-) that's 20,000.
Why the layoff number is so secret? Company should be transparent, nothing to be ashamed of.
Nice, Can I get a hook up at the City garbage collection?
Don't knock the Chinese and Indians just because they are kicking American asses. Their kids are learning how to code. What are yours doing ?
Don’t knock the Chinese people. It’s their government that brought us the Kung Flu. 10 out of 10 IBM execs are happy with the outcome though. Perfect cover.
@jja, good post. Who would want to work for a Chinese company... China k–ls its own people, run concentration camps, suppress people will, etc... China and and all Chinese companies should be avoided at all cost.
@jja I get the frustration but no need for racist slurs. We’re better than that.
I worked at IBM for 19 years before being sold to Lenovo. I never thought a place could be worse than IBM, but the Chink company is. I worked for 5 years and then axed last year. Luckily it was during the height of hiring and unemployment. I took a job with the City. I am doing similar work and work that is much more fulfilling. There is immediate and recognizable success. I took a 20% pay cut, but I am making almost the same money. First, the benefits are insanely cheaper. My medical and dental is paid. My family is only $100 per month vs $600. I get 100% matching 401k for first 3%. 6% of my salary goes to a pension and the City puts another 9% into it. Because of this, I will have the opportunity to retire in 10 years. That was not something I would have been able to do staying at Lenovo or IBM. The earliest there was working until I was 65 and we all know that would never happen. Once laid off in your 50s, good luck finding work making remotely enough to retire on.
To all those getting let go, I feel for you. You will run into a lot of what I ran into. Oh, you worked at IBM what a shame. I know Lenovo is following suit next week as well. Lots of past coworkers trying to sync up on LinkedIn. You know what is going on when people you never heard from for a year start wanting to be a close friend, use as a reference, and beg for help. But not once asking how things are going or calling about potential leads. What's worse is the tech sector layoffs are just happening. You knew they were all going to start at some point. No company is hiring unless you are a pharmaceutical researcher. The job market is going to be horrible and any hiring will be 3-4 month contract work at best.
I’ve only heard it was deep. What was your source for another round next quarter?