IBM's Collapse Continues Today
No revenue growth despite inflation and despite buying companies for their revenue:
The latest 2 threads in thelayoff.com:
The only thing Arvind (they call him "Alvind" internally) raised was debt. His takeover of Red Hat raised the debt by about 35% and he has not really reduced that since becoming CEO in 2020. He just uses profits to buy companies for their revenue, in effect faking growth by preventing gains and failing to pay back massive debt. Microsoft did the same thing with Activision. These companies chew their own fats to "survive". Rebranding is one modus of cannibalisation (e.g. "cloud" or "AI" or "CoPilot" or "Watson" as the new name for almost everything - more and more each quarter under the guise of "modernisation" or "innovation"). █
