IBM: We Lay Off Tens of Thousands of People the Very Same Week We Spend 11 Billion Dollars (Debt) on "AI" Fantasies, Hiring About 8,000 People at Cost of 1.3+ Million Dollars Per Employee
Hours ago: (they are meant to act like they're happy after losing the job [1, 2])
"Following Thousands of Layoffs"
Also hours ago: (regarding the latest and very misguided buying spree [1, 2]; Red Hat mentioned as well)
Cash on Hand is not the same as money in the bank.
Suppose you ran IBM and enjoyed a brand 110 years in the making. What would you do?
Would you fire skilled people? Buy hundreds of companies in a couple of decades? In effect hiring people for a ridiculous price while laying off your own?
What would that do to morale? How would motivation and productivity be affected?
If IBM is spending USD ($) 11 billion to get about 8,000 workers, then that's about 1,375,000 dollars per worker.
Seems like IBM is run by fools. █



