IBM "Value" Down 14.16% in a Month, Red Hat Layoffs Allegedly Discussed 12 Days Ago
It's time for another buzzwords symphony
About a month ago: IBM's Debt Rose by Almost 10 Billion Dollars in the Past 6 Months Alone
"Anonymous" published about 7 hours ago a rather good IBM prognosis. "Good" as in correct:
IBM doing what GE Did
Alvind reminds me of Jack Welch. Acquire companies and pay way too much , then reduce headcount due to overpaying .
GE Went from making appliances to becoming a bloated financial services company then becoming a shell of its former self
Alvind is doing these acquisitions and the balance sheet is artificially pumped up
Investors don’t care about acquisitions, they want reduced headcount due count and they have their puppet Krabanaugh to do that so that S0B can get a bloated 100 million perk package
The first comment noted that "IBM stock down 40% over last month [Ed: actually no, but down 14.16%]. Pays pitiful 2.8% dividend yield. Daily threats about hit a number or get PIPd. Threats to move to some office or get RA'd. If you are a white straight male over 35 you have a number on your back. I just watched an IBM newbie try and use a whiteboard to draw some cloud bubbles for some software nobody uses and she had to keep looking out of the corner of her eye at a cheat sheet to make sure she was doing it right. It was beyond embarrassing and she felt it was worthy of 1B LinkedIn users to painfully watch? Such is the state of IBM new hires. Age, race, gender, skin color. That's it folks. Also it seems a new sales "tactic" is to use LinkedIn and just blindly tell people they are doing something at TopGolf in Miami and any and all are welcome?! Can somebody say total waste of time and money? And they all su-k at golf! Fo-e!"
The next comment said, "IBM is a dinosaur. Dinosaurs get extinct when the don't keep up. Like Blackberry. Or Sears. Dog eat dog world..."
Another thread deals with layoffs and PIPs [1, 2, 3]. 3 hours ago somebody wrote: "Welcome to the CFO’s view of IBM. Costs if eliminated drop to the bottom line. If IBM doesn’t grow 3-4% per year, costs must be eliminated. Currently IBM is growing 1-2% per year all centered around Enterprise upgrades and acquired SW. You don’t see many new mainframes coming on line, and certainly legacy SW is shrinking and being replaced via the acquired SW. This model doesn’t feed the bulldog when 160k of your employees work in consulting which is labor intensive. Thus cost reduction comes into play. What’s a CFO to do? You got it, reduce labor via PIP’s, layoffs, and AI automation and shift those costs savings to the bottom line. The net of this is consulting at IBM will shrink substantially over the next 2-3 years as IBM has to feed the 4% growth objective."
IBM is not growing, it is shrinking (see below). Wall Street and the media that exists to lie for Wall Street is misleading people. █
Last year: IBM and Microsoft Fake Headcount in Exactly the Same Way (While Mass Layoffs Persist and Real Revenue Falls, Not Just Compared to Inflation Rates) | Microsoft Has Already Laid Off Tens of Thousands of Workers, "Headcount" is Misleading Spin From Microsoft-Funded Sites