https://seekingalpha.com/article/4605498-international-business-machines-corporation-ibm-presents-svb-moffettnathanson-technology
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Given that IBM’s headcount worldwide was at approx 295k in Jan of 2023, it looks like Consulting took a 15-20% haircut. If that holds true for the rest of IBM, you should expect June headcount to be in the 230-240k range. The key takeaway from this is that IBM has stealthily addressed costs (PIP and offshoring) BUT will have to disclose a second quarter charge for the April RA’s.
Nothing left to sell but toothpicks and water.