IBM Layoffs in India and IBM's CEO Spins His Lack of Market Share as a Strength
5 hours ago (India):
Hours ago in Indian media: (India Today Group, not to be mistaken for a site notorious for slop)
Also hours ago: πππ πππ ππ«π―π’π§π ππ«π’π¬π‘π§π: Proof That at IBM People Fall Upwards
IBM has had many layoffs in India towards the end of this year, even in some subsidiaries of sorts.
To us, this serves to demonstrate the fragility of IBM. Nobody, anywhere, is safe.
The article above, not from India Today but from India Today Group (Living Media India Limited), is a good example of the churn from the "AK sez" tour [1, 2].
The CEO "AK" got so absurd and increasingly useless as a shallow storyteller that nowadays, if he's not busy name-dropping buzzwords, he boasts about being left behind or being left out... as a great advantage. One day he gets all excited about "Hey Hi" (AI), then the next day he brags that he's not participating in the hype.
Can't he make up his mind? What sort of leadership is this?
Instead of firing the leadership (the Board can do this), IBM is gagging the critics [1, 2].
"AK" et al must go. Morale won't improve as long as they speak for IBM. I heard "AK" (videos) and he talks a lot of nonsense. That's my honest opinion of him.
"AK" cannot really speak for the company that 'started' (or became the face of) modern computing.
This "let's buy revenue" strategy of his is extremely costly and many of the things IBM buys overlap one another, so there's endless waste and IBM is overpaying. It is bleeding to death. If this leadership carries on, the only red left at IBM won't be Red Hat but a red stain. β
"It would be logical to sell Consulting, but IBM needs the FCF that it provides. Consulting isn't growing and it's nowhere near as profitable as Tech, but it still throws off A LOT of cash. Cash that IBM can use to buy companies like Red Hat, Hashi, and Confluent to make up for the fact that Tech hasn't really developed a new product in over 20 years." -Minutes ago
"There's nothing strategic about it. IBM makes big acquisitions like this when their internal financial forecasts show Revenue declining a few quarters out and they need to preemptively "buy Revenue". It's a sign of a very unhealthy company that cannot organically develop new products or acquire new customers. The story has been the same for the last 15+ years." -Also minutes ago