This whole approach will make for a toxic workplace.
It's being driven by a desire to avoid eeoc and other regularity impacts.
If people leave before the three months, the company doesn't have to report that they fired an over 40, their unemployment insurance cost doesn't go up, and the warn act doesn't apply.
Sneaky way to get around the law.
No. You are considered a regular employee for those 90 days. To leave before the 90 day period is up, you can either resign or stop showing up for work triggering a dismissal. In either case, no severance will be given.
If you leave voluntarily before the 90 days is up (if you've found a new job), do you still get paid the 4 weeks severance pay?
That's why our stock price is at the same level where it was 20 years ago.
The face value of the stock is the same, but adjusted for inflation and buybacks, the stock has lost more than 50% of its actual value vs 20 years ago.
@1wpb how many out of the 300K are in the USA?
Having 150K grunt workers in India in inconquensential for someone trying to make ends meet here in the USA. On the contrary, each headcount in India is a threat to domestic jobs as capabilities and knowledge are being developed over there.
At some point, they get all the knowledge and jobs are gone. The cost savings from labor price differences are pocketed by the company and channeled into stock repurchases and executive bonuses. Given the prolfile of work done in India, innovation suffers, the product pipeline deteriorates and the market punishes IBM.
The loop is repeated by shipping more jobs over there and laying off more US resources, repurchasing stock and rewarding exectutives. That's why our stock price is at the same level where it was 20 years ago.
Now compare that with C-level wealth increases that took place during the same period... We are stuck in this infinite loop, the US, the consumer, the worker are the losers - the only party that wins is the C-level cohort.
@w1pb @1uoj you're both right. People working on dead end products or services shouldn't be surprised if they get cut. Anyone expects Ibm to retrain them is irrational. Even people who do have marketable skills are getting cut this round, but at least they can land well.
What amazes me is that there is so little voluntary turnover. Of course, the few who do leave are the ones most able to do so (best skills and experience) so the company is slowly evolving into a refuge of b and c players. Are the rest of the good employees (and there are still a lot) delusional or clueless?
So for those reading here who aren't leaving, If you're good, and have modern skills, why do you stay? Seriously, that's a real question.
And contrary to what some are told, Cloud and AI are not hiring so get out of IT is the safest bet.
Did everyone that got layed off from IBM feel this bitter before they lost their job? IBM is still employing over 300,000 other people. Sorry, but business is in the business of making profit just as skilled employees do. Invest in your skills and keep them up to date. Make yourself marketable and profit from the skill you sell to employers. Sorry for your job loss, but age has nothing to do with not finding employment. Just need the right skills employers are in need of.
If you keep your skill set up-to-date with employment trends, employment shouldn't be an issue. No employer owes anyone a job. You have to have a skill the companies need. And age is not a factor for skilled people. I am 62 and I get several contacts monthly. Month after month at higher pay. Sorry to those who lost their jobs. Just re-tool your skills set and move forward. Best of luck, just change your outlook and all will fall in place.
35 years with IBM. RA'd today in Research Triangle Park NC. Was told my SAP Development skills are obsolete - yet they just brought on 2 contractors last month with same skills. BS! I doubt I'll hear from any of the postings on GOM.
I just happen to be over 40 and the other they are letting go are too.
Take the 90 days to find an outside job.. Be respectful to Mngt, but do nothing.. Use the 90 days as part of your severance...
I was part of an RA 2 years ago. The 90 days is bs. Severance is a joke as well. The jobs that are listed are just a rouse. Doesn’t matter if you saved the company millions in cost reduction when your management is forced nail at least done person from their department to the stake each year! The over 45 crowd which I am in still has me struggling to find a job!!!! IBM just keeps giving Ginni the big bucks while she continues to sink the company into a downward spiral with her sh--ty a-- ethics. KARMA will find her.
Nobody in IBM wants to touch you once you made that 90 day list. I am yet to hear about one IBMer who successful found a job during this time. Many will start looking for jobs and jet before 90 days is over - this allows IBM to forfeit the severance though. It's a miserable severance nonetheless.
To all laid off today, I am really sorry and I wish you all the best.
I was part of the layoff last June. During my 90 days applied to a number of jobs. Never heard from the hiring manager or received any update on my job application. I think the 90 days is more of a way for IBM to squeeze more work out of you before they showed you the door. In any case, I started doing whatever I could to avoid working, so in my view I gave myself another couple of months severance.
300 views in an hour, that tells you a story - an army of people is looking at this...
A sneaky way to save money...
They do not even realize how obviously disrespectful to the worker this is.
We are a company ran by Sales and Finance people, they do not realize that the only valuable asset we have are the people that work here. But for Sales that does not matter, for Finance people are just yet another cost - hence all disrespect for the worker. Had the IBM operations or product people were to be in charge things would have been different, but this is not the case. If you look at the companies that are successful nowadays they all have ops or product people at the help.
We are done.
Re inventing. If management got its act together their current state of invention would push the stock upwards. But instead they re arrange the deck chairs on the titanic.