IBM's Kyndryl Down Almost 20% in 5 Days, IBM Down 35% in About 6 Months, Further 'Staff Reductions' at Red Hat (Problems Paying Salaries!)
In recent hours:
Very 'expensive' worker (IBM layoffs happening right now in Western Europe; the union spoke about it):
Red Hat also:
Bluewashing belatedly noted: (many Red Hat staff are no more)
"As the stock continues to decline, gotta love the post-Think 2026 cheerleading. Less cheerleading, more innovating please." -Moments ago
Almost nobody pays attention to how rapidly Kyndryl is falling (it is already insolvent because, at this rate, its debt will be double the total 'worth' of this whole company, which plans mass layoffs at short notice).
They cannot even do payroll anymore: (new discussion; some people confirm)
IBM and Red Hat have just had their annual festivals (celebrating buzzwords and GAFAM resellers), but behind the celebrations, hype, extravagant hotel bills, and fancy nibbles there is a dark reality. The accounting fraud or "financial engineering" (cooking the books) has become unsustainable. What happens to Kyndryl right now will also happen to IBM (same people in charge) and, in turn, to Red Hat, Confluent, HashiCorp and other acquisitions that had mass layoffs earlier this year.