Rumour: In IBM, Impending "25% Reduction in Finance Roles"
25% to be laid off?
A rumour for now (unverified). There are layoff stories (search for "Legacy"), discussions about reduction in salaries, and much more.
FOR reasons we've explained before (and methods we laid out), IBM is basically cheating on its finances. There are many ways to fake growth, set aside corporate debt. Microsoft, for instance, fakes "sales" and "clients" by becoming its own 'client' (circular financing; it's illegal and the FTC looks into it... until the Convicted Felon will oust the person who does it or leads this probe at the FTC).
IBM is in a really bad situation. "Legacy" or old (lazy) clients is how it got accustomed to 'retaining' some business, but it's not working anymore. As someone put it 3 days ago: "IBM is strong in its legacy roles of high volume batch processing. Legacy roles, serviced by legacy customers, buying legacy hardware and software from a legacy company. But what do new customers use? Where do they develop the new applications of tomorrow?"
IBM is getting smaller and lowering the average salaries (mostly by offshoring) over time. It's a dying giant. From what we've heard, Microsoft is the same, hence it pivots to a Ponzi scheme, pretending that the crisis isn't a lack of money but insufficient energy while Scam Altman bribes and lobbies Don the Con. █