Thread regarding IBM layoffs

Time for a shareholder referendum?

Current IBMer here, the RA was originally planned for Q1 longer before the pandemic started.

After Arvind was announced and Q1 outlook worsened , I heard from pretty high up that he made the decision to hold off on the announcements at end of Q1 indifferent to Ginni who wanted to go forward (presumably for more $$).

I feel for everyone effected and impacted ... totally s—s ... However I think the blame is misplaced on Arvind, he was left with a pile of sh– that Ginni never fixed for years ... which she inherited from Palmisano ...

I complained that once again IBM did not make their GDP (growth driven profit sharing numbers) in 2020, yet Exec's still got bonuses... Could never figure out (other than greed of course, I'm not naive) why the employee GDP measures were different than the Execs...

Time for a shareholder referendum..?..

by Anonymous
| 2322 views | | 5 replies (last May 27, 2020) | Reply
Post ID: @OP+158XdaOE
Comment! It's anonymous!

5 replies (most recent on top)

Shareholder "referendums" and those annual voting ballots for directors, initiatives, etc. are a complete waste of time. They make some shareholders feel like they have a say in how the business is run, which is complete nonsense. I get dozens of shareholder ballots a year and they all go in one place - the trash. I vote my opinion in two ways: if I like the company and it fits my investment goals I buy their shares; if I already own their shares and the company no longer fits my investment goals I dump their shares.

by Anonymous
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Post ID: @2hms+158XdaOE

That would require me to be a shareholder. Which I am not, because IBM did not give me RSUs unlike my peers at other companies. So I could care less what happens.
Don’t you see the problem here?

by Anonymous
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Post ID: @xbs+158XdaOE

AK was put in place to put some distance between Ginni and the sinking of the IBtanic. He won't be there very long before Whitehurst takes over. So Ginny won't be blamed, and AK won't be blamed, and Whitehurst won't be blamed.

by Anonymous
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Post ID: @kih+158XdaOE

So, why IBM appointed AK as CEO if he could not deliver as SVP of Cognitive and Cloud group for many years? On his last All Hands Call, if his charts were all red, on what basis was he appointed as CEO in first place? Was he rewarded for his poor performance and instead of being shown the door, was elevated to CEO position? The IBM ship is going down, no wonder.

by Anonymous
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Post ID: @jwi+158XdaOE

AK is no better than Ginni, unfortunately. You just have to look at his performance as SVP running the Cognitive and Cloud group for many years. A total disaster. On his last All Hands Call, his charts were all red. What makes you feel he can be any better as the CEO?

by Anonymous
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Post ID: @nzo+158XdaOE

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