IBM CFO James Kavanaugh Refers to Firing of Almost 10,000 Americans as "Workforce Rebalancing" (Shifting IBM's Centre of Balance to Low-salary Contracts/Countries)
The scale of IBM layoffs is getting too large to evade WARN Notices
Watch out, Red Hatters. IBM consider you "expensive" and it'll "balance" more you out of work. This new report ("IBM to lay off workers in NC, providing a peek at company-wide job cuts") speaks of the centre of balance of Red Hat, NC (North Carolina). It was published 11 hours ago to say: "In a letter Tuesday, IBM informed the North Carolina Department of Commerce it was laying off 72 employees at a Winston-Salem office, with most working as process delivery specialists. Employers are required to file WARN Notices to the state at least 60 days before closing a facility that affects 50 or more workers. IBM’s U.S. human resources director Lawrence Sposato in the letter stated the first layoffs will become official on May 30."
So the layoffs are so big that evading WARN Notices is getting hard (for instance, laying off no more than 20 people per site at one time, but doing so in 50 sites at a time; then 1,000 layoffs are "negligible"). There's more here today ("IBM laying off 72 in Winston-Salem"). It says: "Tech giant IBM will lay off 72 workers at its Winston-Salem location on Reynolds Boulevard, according to a Worker Adjustment Retraining Notification (WARN) filed with the state." A more authoritative site says that "IBM top executives hinted at layoffs in general at the company’s most recent quarterly report in January as the company reported full-year 2024 revenue was up 1% to $17.6 billion."
Get this:
“We expect workforce rebalancing fairly consistent with prior year,” Chief Financial Officer James Kavanaugh said in the call with analysts.
Yes, "workforce rebalancing"... get paid $50,000,000 per year (including bonuses and share awards) to tell lies like these to the media.
There's also a new video ("Panera Bread and IBM announce layoffs in the Piedmont Triad"). Wikipedia says "Piedmont Triad (or simply the Triad) is a metropolitan region in the north-central part of the US state of North Carolina" (NC).
Apparently they try to give a "sweetener" to those whom they lay off (on the way out). This was posted minutes ago:
"Nickel" is a pseudo-codename reference insiders would understand. █