2,000-4,000 More Layoffs Expected at IBM's Kyndryl, Some Say Over 10,000 Layoffs
About an hour ago:
Older examples aplenty, e.g.:
Some time this morning we wrote about Kyndryl admitting there were layoffs on the way. But how many at Kyndryl would be cut? Ask insiders, as they've already done "the math":
So over 10,000 layoffs (as a rough estimate, even 11,000) seems realistic to several people. IBM has already made similar plans, as did Microsoft. They use euphemisms like "restructuring" or "rebalancing". In the case of "buyouts", for many people that is indistinguishable from severance.
IBM and Kyndryl are managed similarly, so their fates are intertwined. The "offshoot" seems like an act of debt-loading because the "market cap" of Kyndryl is a lot lower than its debt. █
