And they don’t hide it. Fiscal 2025 outlook includes a $100 million workload rebalancing cost. It is clearly on the slides.
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I agree, as a legacy hire from IBM. I am minimized by younger coworkers. I am constantly interrupted when I speak. I always feel I am missing out on some inside joke. I
Could be lack of respect for you get colleagues a factor? Reading these posts and seeing all these older employees complaining about younger employees, immigrants, employees working in cheaper countries and so on... Some comments pretty snobbish, classists, xenophobic and in any other way discriminatory it makes you think if one of the factors can be not being able to adjust to more inclusive, open culture of the company.
I also got my walking papers. Not sure but reasonably sure. My salary and benefits were the primary driver of me being pushed out. I am one of the holdovers from IBM. To be fair to this conversation. I was at the top of the pay scale at IBM. I knew at some point Kyndryl would start going after us old timers. The younger and newer employees already openly question our salaries and company worth. So kyndryl good luck using the younger cheaper workers. The diaper and sippy cup crowd. That is exactly how we would privately refer to them. Trust me we weren't to far off base.
Rebalancing underway - exit date June 30 - not sure of scope
Congratulations. You just discovered the capitalism
They are quietly thinning the ranks through attrition. For now it is mostly persons retiring out a little early or workers leaving organically. Job opportunities for the lucky few that leave. There has been quite a few straight out firings. Firings do not need to be reported in my state, firings are not layoffs. I am reasonably sure once Kyndryl exhausts all the low hanging fruit. Then we will start to see them get serious.
It has already start, here in the Raleigh office. It seems it has begun.
Kyndryl is gross. Of course some will get rich off this mess.
Here's the formula IBM used to use for Workforce Rebalancing according to @OP+1aHer3wU
"IBM has set aside 3b for 2021 and 1b for 2022 for 'workforce re-balancing.' That translates to about 33,000 heads in 2021."
$3B for 33,000 heads = $90,909.00 per head
$100M at a rate of $90K per head = 1,100 heads
Oh yeah, it's obvious to anyone who has been here long enough. Just a matter of time. This company was created with the odds stacked against it succeeding. The board will do everything possible to drive up the stock sufficiently. Then reward themselves and hang out the employee's to dry.