Usually on a Tuesday!!
12 replies (most recent on top)
Rob Thomas will be next CEO. And he will also try to save IBM into prosperity. Continues to devolve into thin air in an eco chamber like none I have seen in 24 years at IBM, total 44 in IT.
A lot of this "cloud" (read: server) thing is just a bubble and buzzword/rebranding anyway. They already rotate over to the next bubble, "AI". They even lose money. https://www.cnbc.com/2022/12/21/google-leaked-doc-microsoft-azure-losing-money-on-29-bln-in-revenue.html
IBM isn't doing well in the cloud and data space compared to their competitors. What if they just sell it off? Let's be honest, this company survives with accounting gimmicks. The 401K debacle tells you how bad they are.
The next CEO will continue on the same path... it has been working well for all the past CEOs. None of them really care about IBM, they just see IBM as a piggy bank. This is a real shame for the board... but hey, who are the guys on the board? The same type of individuals as the IBM CEO. So, here you go!
Bench PIPs are continual at IBM.
Alvind's final madness, because his days are numbered, and it's doubtful that the next CEO will be able to turn the tide.
Listen closely to the IBM 4Q 2024 Earnings Announcement call on January 29, 2025. This is when projections for workforce reductions or Resource Actions (as IBM calls them) are laid out. The key words are "workforce restructuring" or funding for severance payments to facilitate the restructuring.
The calls are public and you can attend via this link in January. The calls are also recorded and posted. https://www.ibm.com/investor/events/earnings-4q24
Time to cash out if you are not of asian dna. It's been going on for a few years since he took over but now the partner level feel embolden to take out whites and blacks in the USA at the band 7-9 levels and replace them with offshoring or more visa workers.
Ever since RAs began at IBM in the 1990s, they have typically occurred every quarter. The "interesting" thing now is that all the low-hanging, the mid-hanging, and even some of the high-hanging fruit is now gone. For decades, IBM's primary business model has been to reduce labor costs through globalization and division sales rather than increase top-line revenue through organic business growth. They have added divisions now and then, but they don't make up for the major losses of business that have taken place over the years.
IBM is likely now at a point where it cannot fire staff without severely impacting its core businesses. How many more salespeople can be "surplussed" for not making numbers? How many more senior-level architects and developer jobs can be sent overseas? Customer service and other admin jobs are already handled using cheap labor. How many more CHQ or letter-banded jobs can be cut? I'm sure the management can find pennies under the cushions, but is there that much more?
For what it's worth...I was RA'd at the end of March (I won't say which year). On March 31, I walked into an IBM sales office (I was a remote employee), handed in my Thinkpad and my badge, and walked out with a paper check.
It’s anyone’s guess. But it is as certain as death and taxes.
It's gonna be early in the year, not later as everyone likes to imagine......after all Alvind needs to show everyone early that he has earned his oversized mega-bonus, through layoffs and divestment of dysfunctional IBM products and that he and his senior management have achieved.
You have to wonder if the dolt will get an invitation to Trump's inauguration ? After all, IBM is no longer a growing superstar company like Microsoft, Google, Meta, Tesla and many others. Alvind has successfully pushed IBM into failure sh*t creek territory but he likes to be seen hobnobbing with the rich and famous, even though he is going nowhere but down and out to India.