Today's Discussions About How IBM Pushes Workers Out
The corporate media keeps trying - baselessly and in vain - to paint everything that happens with the "hey hi" brush:
The sharp fall coincided with the accounting scandal connected to IBM's current CFO.
There have been some discussions today that merit a mention, starting with this thread about quitting IBM and taking what can be fetched on the way out.
From the past 4 hours:
As IBM 401K is tied to a financial/accounting fraud of some kind, and assuming IBM is fast declining, it'll be rather risky. No IBM, no 401K. Then again, maybe all pension plans are tied to Wall Street one way or another.
Another active layoffs thread has a 4-hour old comment about how IBM 'convinced' workers to leave instead of it being called "layoffs". To quote: "Yes as others have said, IBM Consulting seems to get better/special treatment and better pay outs when leaving IBM on their terms or IBMs. You really should know this and talk with 1 or more of the many IBM Consulting folks who thought they were protected and then BAM get the notice of RA or PIP and left IBM. In 1 case I know the person got a fairly sweet deal of 6 months+ payout that was negotiated back and forth. Good luck."
It says "leaving IBM on their terms", but only after seeing colleagues getting sacked (RA) or put on a PIP; it's hardly voluntary.
"RA‘d from CIO in Spain 2 years ago," someone wrote a few hours ago, then "moved to an insurance company that doubled my IBM salary and tbh that RA was one of the best things that could happen to me."
Someone responded by explaining how bad IBM had become: "yes many do much better and enjoy things much better at a business partner or becoming "a customer" USING IT instead of SELLING it. IBM really is a declining dumpster fire and I NEVER thought I would say this (joined in the 80s) but PRETTY MUCH ANYTHING is better IBM as IBM is like a meat slicer that just cuts into your mind and body each minute of every day."
IBM's stock fell 15% this year and it should have fallen by a lot more. What sustains IBM is false reporting of performance and IBM borrowing more money. █