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The Red Hat Layoffs Rumour Likely Right, as IBM Prepares to Lay Off in Second Week of April, Triangle (North Carolina) Also Targeted

posted by Roy Schestowitz on Apr 03, 2024,
updated Apr 03, 2024

Yesterday we wrote about Red Hat and layoffs. As recently as 4 hours ago: (direct link)

They don't dare. You don't bite the hand that feeds you. Red Hat has carte blanche.

IBM has a history of extremely big cuts, e.g.

2015: IBM says 'several thousand' layoffs on the way

This new thread (regarding IBM) says: "The next round of RA is expected in the second week of April. Severance was about 3 months for those less than 5 years tenure. A bit more for those more than 5 years."

Over 100,000 workers? Nope. But something seems to be going on.

Red Hat's former CEO left the company 2 days ago. It typically happens when they know something is coming and want to wash their hands off of it.

This happened around the time he said he'd leave the company:

IBM layoffs hit some Triangle workers, but it’s unclear how many jobs will be lost

It's very near to where Red Hat is (Research Triangle Park):

Research Triangle Park

Red Hat Triangle

Time will tell what's going on. IBM is about 60 billion dollars in debt. When the pandemic started the debt was around 70 billion, but back then interest rates (i.e. the payments on the debt) were almost 10 times smaller than now, so debt was "cheap".

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