IBM is Cutting - Almost in Half - Its Office Space in Austin, So Expect Many Layoffs (RAs)
This was in the news towards the end of the week:
Also covered in:
- IBM cancels deal with Hines as it nabs big office lease from Facebook's parent in Austin
- Meta out, IBM in at the Domain
- IBM Scoops Up 320 KSF in Austin
- IBM signs lease for entire 15-story office tower at Austin's Domain mixed-use development
- Meta sheds more Austin real estate as IBM assumes its Domain lease
Based on online discussions, "RAs" (layoffs basically) are "imminent" because of significant decrease in office space:
YESTERDAY we mentioned that, contrary to what Wall Street is telling, IBM goes through different and very difficult times. Its own employees say so and rumours of IBM layoffs (recent weeks) seem to be further affirmed because last Thursday IBM admitted moving from a large office building to a much smaller one (Microsoft did the same last year and this year). This isn't because of "remote work"; if anything, more workers are forced to come back to the office (RTO). IBM is notorious for RTO.
So IBM reduces office space by 187,00 square feet or 37% (36.88). If that does not mean layoffs, what will? █