##layoff Layoffs at International Business Machines are in the works, the company confirmed to FOX https://www.foxbusiness.com/markets/ibm-cuts-thousands-of-jobs-report
IBM should have done that years ago, now they’re just using covid19 as an excuse
Years ago didn't give you all the tax benefits as of now.
IBM is always doing layoffs, that’s the only tool they have increase profits and calm the market.
that's bad manners, no wonder you are called I.B.M
This an abbreviation I didn’t get
Intentional bowel movements?
Execs didn’t take a pay cut btw.
There is a tremendous amount of executive bloat and dead weight here. By my estimation, we could probably eliminate 40% of our current workforce (140K people of 350K total employee count) to operate more efficiently. That would free up the real engineers to focus on generating new IP to be competitive again. Wishful thinking on my behalf...
We could eliminate 80% of executives as a part of that 40% too.
This was long way coming, Covid is just an excuse.
Yikes, does this mean they will only bring 15 people to customer meetings?
I didn't realize that IBM still existed. Guess it's their mainframe business keeping them afloat.
That's partially true. Mainframes are like Microsoft Office, it's never going away and can generate revenue forever.
I can survive by migrating Mainframe applications to Java then :)
Someone help me out. I heard IBM does regular layoffs, but does this seem like the impact of Covid is getting to them or just business as usual? I'd imagine they'd be fairly immune to this sort of thing.
IBM is the worst company ever. All they care about is the bottom line.
This sounds like the very definition of capitalism.
I repeat. The very worst company ever. I worked their 6 years before 911. Treats employees poorly and only cares about the bottom line. Whenever I get a chance to tell them no, I tell them no.
Would they revoke new grad offers? Nah right?
This is business as usual, and had nothing to do with the pandemic.
Is there a reason why so many were fired/let go?
Part of it has to do with the new CEO cleaning house.