More Mass Layoffs Coming IBM's Way (Ones IBM Cannot Hide, Cannot Convince Enough People to Leave or Unjustifiably PIP Them When They Say No)
Now that IBM gets rid of many contractors, tells veteran workers to leave and PIPs up to 15% of its workforce people still expect "RAs for September in process by Management". This was a short while ago: "Not sure on the number of folks impacted across BUs but RA are coming in Sept. Given that this have been the worst quarter with a historic price drop, let’s hope for the best."
There's this other new question that comments find suspicious:
"What also is concerning is how Arvind preannounced that the 2nd quarters financial results were going to be down," Someone pointed out hours ago. "This was not the first time IBM had a significant earnings or revenue miss so why the preannounce?"
Things are vastly worse than what they told Wall Street and they have no innovation coming, just vapourware, i.e. false promises.
About IBM Expert Labs (TEL) someone wrote some hours ago: "TEL is dying for sure. It is a slow death, but a sure death. No longer the place to work in."
The same is said about Albany, a waste of money leveraged only for vapourware spectacles of the CEO.
"IBM is going down the same playbook as before," somebody explained hours ago. "Eliminate the on shore expense and hire in India. The problem is there are far fewer on shore heads to go after these days due to repeated past RA actions, and the on shore heads have more value chain experience vs previous rounds so you actually start impacting the business. I figure IBM has at least 1 big off shoring left in them which will result in approx 35k remaining on shore. (10k of employees results in approx 700 million in savings) So what’s a CEO to do after that. Perhaps it’s time to look at the off shore headcount and start managing for efficiency vs just labor replacement. If IBM managed for efficiency, the off shore head count could be reduced by 30-40%..."
Is there anything left that IBM can diminish without injuring itself?
As far as cost-savings go, they already cancel a lot of travel. The company that was like a "father of modern computing" is now stingy when it comes to travel. Not a good sign. █