IBM, Red Hat and Microsoft Probably Also Manipulate Metrics (It Helps Con the Shareholders)
A few years ago: Microsoft “Azure” (or “Cloud”) Results Are Most Likely an Elaborate Fraud | Azure Apparently Losing Money and Microsoft Lies to Shareholders, in Effect Breaking the Law | Poorly Redacted Documents From the Court Reveal That Microsoft Has Indeed Defrauded Shareholders About Azure
In the news right now: (regarding Kyndryl Holdings Inc, IBM's "baby")
IBM (and Red Hat; same thing) is having a bad week because it cannot hide the mass layoffs from the media anymore. Its offshoot Kyndryl is collapsing after reports that it defrauded the investors (probably the same as IBM under James Kavanaugh) and Thomas Claburn, having watched the IBM layoffs forum (as did we; we do too, especially when there's "media blackout"), released the following honest article some hours ago:
IBM US cuts may run deeper than feared ‒ and the jobs are heading to India
[...]
Following our report last week on IBM's ongoing layoffs, current and former employees got in touch to confirm what many suspected: The US cuts run deeper than reported, and the jobs are heading to India.
IBM's own careers site numbers back that up. On January 7, 2024, Big Blue listed just 173 open positions in India. On November 23, 2024, there were 2,946 jobs available in the nation. At the time of writing, the IT titan listed 3,866 roles in India.
American jobs listed for these three periods are 192, 376, and 333, respectively, though at least among those being laid off, there's doubt those roles will be filled with job seekers in the States.
A current IBMer who won't be there much longer said that after being told to teach recently hired workers in India "everything I know," the reward was a resource action, or RA – Big Blue's euphemism for a layoff.
It is not racist to say what's happening. He rightly notes that "resource action" is "Big Blue's euphemism for a layoff". James Kavanaugh speaks of "workforce rebalancing".
When the truth comes out IBM and Microsoft (among others) will collapse by far more than Kyndryl just did. Yes, Microsoft does this too (see links at the top) but evades detection by "Those Who Matter" (maybe it bribes them, maybe regulatory capture). Wall Street's credibility will depend on enforcement of "checks and balances". Under the current US regime - which is funded by GAFAM - they'll likely try to prolong the fraud instead. █