More IBM Layoffs (Just Days After 1,000+ Laid Off in China)
IBM as an employer is not in a good position. With 13.69B in money "available" (if it liquidates assets and looks to have cash within weeks/months) compared to 59.84B in debt the company must cut expenses (to avoid becoming insolvent), typically by shedding off staff. It happened last week in China and it's still happening outside China: (updates just hours old)
One might call this "rumour", but we saw similar claims elsewhere. We have no reason to disbelief.
IBM is the sort of company you would not want to work for right now. The anxiety must be growing and stress can literally kill. Some people at IBM get fired just for their skin colour and employees are upset about this (very active thread at this moment).
Red Hat is just part of IBM, so the above also applies to Red Hat. █