Dozens were laid off in the last 3-4 weeks. Partners and associate partners in Consulting. The next round of RA is expected in the second week of April. Severance was about 3 months for those less than 5 years tenure. A bit more for those more than 5 years.
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Wow, when I got RA’d back in 2018 we got 1 month severance. This was with 23 years and band 9 so at least you get 3 months now
Too many Partners and associate Partners in IBM Consulting. Most of these guys are totally useless and only costing money to the company. IBM needs to fire 50% of management to start making a real profit and see its stock taking off. Not sure what the fu--ing CEO doesn't understand... he always keeps on laying off experienced highly billable people! Makes no sense!
Link to non-AMP version of article referenced here @4gpe+1rN8Ije5
Former IBM Canada worker wins six-figure payout for wrongful dismissal --
https://www.theregister.com/2023/10/25/ibm_wrongful_dismissal_canada/
OP here. Another round of large layoffs happened last week and continues this week.
yes, 3 months severance in US, same for me and colleges ranging from 8, 12, 23, 32, 36, 34 and 43 years. Health care benefit ranged with up to 1 yr continued coverage for those with 25 yrs +. Sad day in IBM. Again axing the older, higher paid, experienced crowd delivering on targets, contributing to sales! Hiring zero-experienced back fills when possible (or pseudo possible) in countries with lower costs. Its no wonder IBM does not publish employee counts at the country level. This is not TJ Watson's IBM or America's IBM.
I heard that major reduction coming at P & AP level. Each AP has been asked to get 100% billable role and each partner has been asked to bring new business. No internal roles for partners. Everyone is expected to sell, sell, sell.
It says - RSU documents are international, and this judgment may have repercussions in a much broader context than just Ontario - which is good news for those in the US
This is the article — https://www.theregister.com/AMP/2023/10/25/ibm_wrongful_dismissal_canada/
The courts have struck out the termination related language relating to the RSUs last year and they have global implications. Tell your lawyer to read or Google case law Milwid v IBM 2023 ONCA 702. He had 888 RSUs and 444 were to vest after he was terminated from IBM. He took IBM all the way to the Ontario Superior Court and won. IBM went to great lengths to fight this because of the global implications. The wording of the RSUs came down to 5 words that were ambiguous in the eyes of the court. Read Milwid’s interview with the Register.
All of the stock awards that I ever received came with paperwork laying out the terms of the awards. The terms included dates when the awards were valid and terms that must be met to receive or exercise the award. (eg employment status and effective date) If the dates and terms are met before the RA is effective, then you are in the money. If not then you can’t exercise the awards.
Developers in U.S. got crushed, Indians not so much. Lot's of long-time developers and even some bright new ones were axed. Sh-t Indian developers? Nothing.
Stock Awards: do they all immediately vest upon RA. Or does the RA’ed employee lose then unvested shares?
Given that this company constantly sc--ws over its employees to save fractions of a percent, what do you think the only possible answer is?
Stock Awards: do they all immediately vest upon RA. Or does the RA’ed employee lose then unvested shares?
Non Executive = Bands 1 - 10
Executive = Bands D, C, B, A, AA
Cross sector and CT were hit
What distinguishes "executive" vs "non-executive"? Letter band vs number band?
In my day, a letter band losing their job was unheard of. I'm sure it happened to someone, but nobody in my circles ever heard about it.
8 years with IBM.
@2ugf+1rN8Ije5: if you can share, how many years were you with IBM?
Confirmed. I got hit 3 weeks ago.
Band 10 AP US Consulting.
1 month notice, 3 months severance.
In the US all non-executives get 3 months severance regardless of service whereas executives get 5 months
@jex+1rN8Ije5: Yes, the RAs have been in the US. Yes, I could be wrong about the severance package... just reporting what I heard.
Figure in the next few weeks IBM Consulting will start evicting the managers that aren't in line with the RTO rules.
Also big hit in marketing (MCC) mid-March to make room for non-native-English speaking WRITERS from India. Watch the web site and other non-advertising venues for poorly-written, nonsensical copy writing. IBM just doesn't care any more. Stock price up and dividend paid is all that matters.
Op, are you talking about the US? If so, your knowledge of the severance package is wrong.
Which sector and service got hit hard?