IBM is Dead or Dying. Now It Asks Workers to 'Resign' Voluntarily.
To save face, to pretend no layoffs are happening (as it might alarm shareholders)
Worry not! The chef (or "shef") knows exactly how to run IBM. He knows how to cook the numbers and the books, assisted by the CFO who created the Kyndryl debt sponge. He name-drops all the "right" buzzwords; he has the backing of Bear Stearns' booster, Mr. Cramer. Excellent and cost-effective use of marketing budget, saying IBM was undervalued just moments before the share price dropped about 30% (in one day).
The chef (or "shef") seems to know how to avoid panic in the kitchen.
It's hot!! Leave the kitchen!! So said the cuisine master. Hours ago:
We keep hearing more and more stories like that. It is not mere hearsay when it's plausible owing to prior similar stories, told anonymously of course (as otherwise the NDAs would cause trouble).
Hours ago somebody wrote: "There is nothing good about IBM anymore. Nothing. They moved the goalposts mid year and then told sellers, tech sellers, CSEs etc that they can only travel now with special permission from the kindergarten principal after spending 7 months telling us that getting in front of the customer was the most important thing ever. The IBM executive team clearly has no f'ing idea what they're doing."
"In reading the tea leaves that AK has put out," someone responded, "3rd q is most likely a make. Why do I say that? AK went out on a limb and revised IBM revenue to 4-5% growth. He would not have said that if he wasn’t certain he had a make in hand. I suspect a lot of the deals expected in 2nd have closed thus goosing 3rd q revenue. NOTE IBM is also using all of the old plays to goose the 1 billion in free cash flow (no travel, hiring freeze, PIPing folks, and I expect a Sept RA). Those savings drop to the bottom line thus goosing free cash flow. The last thing to keep in mind is the sales re-org. You don’t reorg in the middle of a year unless you can see a way to keep wall street happy. I suspect the 2nd q bleed over gave AK that flexibility. It also gave AK a way to reorg sales management (possibly layoff) for lack of execution. The net of it all is AK has a way to get to 4% + revenue growth" (faked or acquired 'growth' while debt soars).
As the last comment there put it, "Alvind lies, he is slimy. he cooks the books. All the analysis provided is pure gibberish" (it is paid-for fake 'analysis').
How much longer can IBM pay the press to play along with the lies (propagating them) or to keep quiet every time there's bad news? Or to cover up and excuse away sobering reality checks... █