It seems like a lot of people got news they’d be laid off today. Does anyone know how many as of this point? Looks like these next couple weeks will be pretty bloody.
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With flat revenues and disappointing earnings, Kyndryl cannot afford to stumble with the workforce reductions. Huge numbers will be told in June with off roll dates in July.
Agree with earlier poster - the company has hired a lot of VPs in past 6-12 months who talk transformation, new paradigms, the promise of AI, etc....but at the end of the day, most don't sell enough.
@zn what it won’t be is merit based, that’s a safe bet.
@103 which is like… everyone basically
@zn my bets are on a high concentration of over 40’s.
A chunk of ppl on the bench in the US got their notice today.
I can’t lie. I’m curious to see who gets the boot. Bets anyone?
do't be surprised when yall bite it. no new businees for 5 years, wut u expect?
Go look at the comments in the "Job cuts ahead" post from May 06 as it gives great details. Pasting here for easy of use, but my math shows about 10.500 layoffs is the best estimate (almost 15% of workforce):
Kyndryl announced in an 8-K SEC filing that the board has approved a "workforce rebalancing action" that will result in $200 million in severance and related charges.
To put that into perspective using historical data:
In fiscal 2024, they spent $190 million on severance, which resulted in the termination of approximately 10,000 employees.
In fiscal 2025, they allocated $100 million, targeting around 5,200 jobs.
By approving a $200 million charge for this upcoming round, they are mathematically targeting the elimination of roughly 10,000 to 11,000 additional employees globally.
@rr honestly this is very true. company is too top heavy
Too many SVPs and VPs in the company trying to be relevant by creating imaginary work without value. Instead of them, poor Band 7s, 8s are being sacrified
@nd 9k? Bro, this entire company is going down. Can anyone name any significant new business other than the Royal Bank of Ismerland?
@nd and deadline for that? end of financial year? End of this quarter?
Total Target = 9K NA/EMEA/India
@cj 200 in the uk
@ch I think they are focus on US and UK at this moment. Others will be target later.
guys I dont know anyone affected by the layoffs, how did you come to find this all out?
They won't fire everyone because there won't be anyone to work for them.
This company doesn't produce anything, but acts as an intermediary between the client and the employee.
It doesn't produce anything real. A parasite and speculator company. The ones least affected by the layoffs will be the cheapest employees.
The initial meeting with the ECC reps was held on Tuesday and it is now Thursday and we have had no news here in the UK. There was a technical glitch in the shared email address apparently. We are all waiting to see how we are impacted for those in scope and at risk. It is so shambolic to keep the employees waiting like this.
@a6 apparently about 30% to go in the U.K. all our great tech people
Marty gettn new garage doors at the beach house - $75k a piece. U gettn health care til the end of the month.
Seems to be primarily US employees (gee, shocker).