Bonum Certa Men Certa

If Red Hat/IBM Was a Restaurant...

posted by Roy Schestowitz on Apr 21, 2024

Two hours ago in thelayoff.com:

You will only see more of this in the coming years. The managers of failing restaurants do everything to keep the business alive...they cook the books, steal money out of the safes and cash registers, sell off the furniture and kitchen equipment, cut quality and service, and they short employee paychecks in every way they can. It becomes a vicious cycle as employees, customers and vendors realize what's going on...they will eventually cease doing business with the restaurant, or they'll service the restaurant with extremely limited credit...net/30, net/10 or COD. IBM is in the same boat.

This coming week marks one week since mass layoffs at Red Hat. IBM also releases "results" in a few days.

15 hours ago someone said: "Two things need to be addressed: 1. The labour code requires IBM to pay up to 3 months worth of salary when firing ppl, depending on how long they have been employed. The severance package is at most additional 5 salaries, in case you're with the company for more than 20 years. Even the most senior employees got maximum of 8 salaries in total. 2. On average, b8 roles earn 45k gross p.a. in Slovakia, now compare that to US employees and you'll see that the severance package is not such s big deal" (IBM is laying off hundreds in Bratislava)

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