IBM and Red Hat future layoffs
IBM CEO said that they wont be doing any layoff, now they say it will cut 3,900 jobs. Red Hat CEO said the same thing, what should we expect?
Definitely expect layoff at Red Hat eventually but probably not this week
Yes to both, they will do layoffs. Consider yourself lucky to not have to work at ibm anymore
I would definitely pay attention to IBM’s next moves and how they may affect us based on yesterdays earnings report and how investors reacted: “ ‘It seems as if the market is disappointed by the size of its announced job cuts, which only amounted to 1.5% of its workforce,’ said Jesse Cohen, senior analyst at Investing.com. ‘Investors were hoping for deeper cost-cutting measures.’ “[1] I’m not sure I would expect a big layoff announcement any time soon (let’s see how badly that statement ages :-) ). What I would expect to see is a combination of increased attrition with slowed down hiring and “realignments”/“transformations” (think learning and enablement) that result in positions being cut without generating a lot of noise. That combination should keep any big layoffs at bay, for now. [1] - https://www.reuters.com/technology/ibm-reports-highest-annual-revenue-growth-decade-2023-01-25/
Any ceo who says they will never do layoffs is lying. I doubt Matt said that. If you want job certainty… tech is probably not the best place to be. Many are rediscovering this.
Clearly the CEO is not doing what he is saying, so don’t worry, no layoffs