Return of the old knight - IBM
They seem to have used pandemic years leading upto 2022 to trim fat, do almost no hiring, spin off entire business units that weren’t growing even though generating billions in revenue (GTS/Kyndryl), preserved cash, accepted defeat in areas like Watson health and sold them off, acquired Redhat, repositioned entire company to focus on hybrid cloud and ai software over redhat layer, and have been partnering all over the place, including AWS, Azure, and other hyperscalars. Heard that the new CEO Arvind has taken decisive actions, introduced OKRs etc, and in general the place doesn’t feel like a country club anymore. Still generating $50-60B in revenue, and trending upwards with Redhat. Best performing stock in tech this year with a 5% dividend. Can it really be time for the 100 year old guard to revive💂♀️ - https://youtu.be/aYtY-_Emsig #tech #layoffs #2023 #ibm #faang #stock #recession
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So, why didn’t IBM see massive growth over the years? I Blame Microsoft
Circling the drain, only still around because of long term bank and government contracts.
Why do people view this as a bad thing? Working at a SaaS company that gives 0 consideration to making a sticky vendor product relationship is not good. IBM has thousands of employees that hang out with senior executives at every bank, government, insurance company in the world. That money will be coming in when your grandkids are alive so I’d say that’s pretty smart not something to complain about.
Those contracts are ending and not being renewed like the past. Business is eroding, that's why it's bad.
I worked for 3 different teams 2015-2018 at IBM, one of them being Watson Health. The whole time I saw a sinking ship and terrible stock performance. It's great to see them finally start to turn it around, but they have a long way to go.
Problem isn’t strategy, it’s cultural.
The culture is slowly changing as the boomer old guard retires/dies off.
It also seemed like their entire business is just whatever buzzwords are popular at the moment (Quantum, blockchain, AI-Watson, AI again, cloud) With no meaningful deliveries in any of those areas
I interviewed one person from IBM for sdm/tpm role. They spent 1 hour explaining one question how is their role technical and ended up saying they rely on tech leads for everything and coordinate teams. Had no clue on scope estimates complexity.. juts one data point but overall it seems IBM lacks tech expertise and attempts to catch up in every segment.
You are interviewing the wrong group. On the ground, majority of the features are manned, developed and architect by one person, with 15+ people claimed credit, and 5 of those will get awards and promotions
If IBM can stop bleed money through dividends and invest in R&D instead.
Never happening
is ibm hiring (esp in bay) ? how are offers for senior swe ? hows work culture ?
I finish 40 hrs of work in 10-25 hrs. TC: 102k + 10k sign on Experience: new grad
omg.. in bay it is too low :(
ex-IBMer here. No, only if IBM can pay top talents like what they did 20 years ago TC in IBM: 90k TC now: 350k
Please keep this BS to LinkedIn.
Nah - we will leave it here. Blinders are better than LI.