https://www.crn.com/news/computing/red-hat-to-lay-off-over-700-employees-report
8 replies (most recent on top)
Take Ansible with you on the way out.
Evidently someone makes red fedoras in ostrich size
See there conversations about getting "above market" severance packages They really are delusional LMAO
The Red Hat board on this site is comical. They are up in arms. Shows how good they've had it for too long. Nobody over there saw it coming. They really thought they were untouchable.
Now the Hat truly is red cuz they finally took one over the head.
Been enough blue blood spilled About time they feel the pain too
https://www.theregister.com/2023/04/24/ibm_red_hat_layoffs?utm_source=dlvr.it&utm_medium=facebook
If you look at IBM’s 1st q results (green dollars not CC) IBM missed by approx 4.5%. Redhat missed by 4% from its 15% growth forecast.. So Redhat is reducing head count via the same amount as revenue miss, and you should expect IBM 2nd q to also do the same. 4.5% of IBM = 12k of folks. My guess is that’s what you saw 2 weeks ago with the RA’s. NOTE given IBM’s 1st q performance if they remain on course, they will still miss 2023 FCF by 500 million. That means another 10-12 k will have to go over 2023 just to break even. 500 million nets to 6500 head count with NA burden rate, BUT due to almost 1/2 of the year being used up, we have to inflate the layoff headcount to make the number. Thus in 2nd q we’ll see approx 20 - 25k of RA’s.