The Red Hat Layoffs Rumour Likely Right, as IBM Prepares to Lay Off in Second Week of April, Triangle (North Carolina) Also Targeted
Yesterday we wrote about Red Hat and layoffs. As recently as 4 hours ago: (direct link)
IBM has a history of extremely big cuts, e.g.
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:
It's very near to where Red Hat is (Research Triangle Park):
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".