In the words of Capt Jack Sparrow. That mate was the opportune moment. AK even the street says you blew it when it comes to transparency and trust from your employees NOT a good start!
https://techhq.com/2020/06/ibm-layoffs-a-lesson-in-bad-crisis-leadership/
I procrastinated on taking my 5 days vacation ... yay me! Now I get 5 extra days pay on 6/22.
In fairness to AK, Ginni would probably be taking Trump's side over BLM.
Organizations of all sizes have been struggling as a result of COVID-19’s economic impact. As businesses seek to rapidly cut costs, redundancies have been an unpleasant consequence.
The redundancies are in corporate with upper management overlapping each other
@los+15gK2rL6 VMware suspended full year guidance and they are beating the streets estimates though.
So here we are 30 days from end of quarter. Right now
GBS is way down (no new business)
GTS is slightly down. (Long term contracts are saving it)
HW is variable. Z doing pretty well in its life cycle, storage doing OK. Power is way way way off
Cognitive is actually up
Cognitive increase will not make up for GBS’s loss
More trimming will happen in 2nd half as the transformation continues
"The firm has now suspended earnings announcements for the rest of the year" is not a good sign.
Yep, AK blew it big time. The whole executive team had a giant PR cluster phuque with the "take 2 weeks off by June 30 because we care about you - just make sure you use EARNED time" blatant lie. That was bad enough. Then along comes Ginni 2.0.