IBM CEO Says IBM Won't be Bankrupt by 2028 or 2029 (When He Reaches Retirement Age)
Printing fake news the "CEO says" way (to make misleading or false "non-facts" look like mere opinions). Cramer leads the way:
While IBM shifts its centre of balance to a place where salaries are much lower:
There is no real, honest journalism left about IBM because IBM paid some very major publishers to cover up the stock's collapse (excuses told), to present products that don't exist and won't exist, then pretend IBM is a cutting-edge player while the grim reality is, IBM is just milking the little that's left from its distant past, e.g. mainframe, COBOL, "consulting" (presumption that "Big Blue" knows best).
IBM lacks a real, forward-going/looking strategy. Cheapening the workforce and name-dropping buzzwords may seem like an immediate 'fix', but in reality it lessens any chance of IBM creating new, competitive products. As for buying companies like Red Hat/HashiCorp/Confluent (only to sack the workers), it is financially unsustainable and bloats up the debt.
The IBM PIPS are happening, RAs will follow.
"If you are impacted," someone has said, "Sue just sue..."
On IBM trying to cut expenses someone has noted, "that's what dying companies do, start cutting back on all the unnecessary expenses..."
There's meanwhile this RA story: "I was let go from IBM November 2025 and honestly i felt relived. Twice a year I saw some of my colleagues getting RAed and thought when will I be next. I worked harder thinking my performance will speak for itself. Boy was I dreaming. However when it happened I was good with it, no harm done. I took my severance and took a much needed 4 month vacation around the world. There is a life after IBM and its real and magnificent..."
"Different people have different constraints," someone replied. "Some in their 50's might need at least a decade of work. Lives are shattered when the unexpected happens. Let is not go down the path, "it is a blessing to be let go after decades of dedication"."
Normalising the destruction of IBM and making it sound like a "blessing" means bad management will never be held accountable.
About nepotism and progression: "As I have stated before and seen at IBM, is that young managers in sales and technical sales are put in those positions not based on experience or accomplishments, but instead on someone sponsoring them who he or she rubbed noses with. It makes you sick to see how they fail when a better more experienced and accomplished person should have been promoted into management."
This relates to what we published two days ago: IBM Has Embraced and Rewarded Liars
IBM has no path to survival, the management is just gaming Wall Street to pretend everything is OK while silently laying off all the potent workers who built the company. █