IBM Laying Off Thousands of Workers Again, Based on Q1 Earnings Call
Months ago: IBM Has Already Admitted 2026 Mass Layoffs (in 4Q Earnings Call)
10 hours ago (still ongoing: ("If IBM continues to use an average cost of $150K per employee, then $300 Million translates into ~2,000 employees.")
From the official page at ibm.com:
Days ago:
IBM is not in good shape. It is in fact in terrible shape and rumours suggest the CEO might soon leave.
As someone put it a few hours ago: "There is one, and only one, reason why a corporation would start making public pronouncements about the strength of its balance sheet and their excellent financial management: the balance sheet is a disaster and the company is mismanaged."
Another said, "have you heard about that company Kyndryl?! What a cautionary tale! I wonder who taught them how to operate like that. Such a mess!"
The total "worth" (in Wall Street) of Kyndryl is less than its total debt. What does that make Kyndryl?
Anyway, as shown above, under the guise of "workforce rebalancing" we are again seeing that IBM plans to pay people (severance) to leave. This has been like this for quite some time. There's no end in sight. █
