It usually takes several months for a new CEO to put their plan in place. Gerstner took from April (Hire in) till Aug (execution of the plan) to roll out his vision of IBM. (Layoff’s, restructuring, and sell offs) I expect AK to take approx the same amount of time to roll out his vision, which most likely will include all three pieces (layoffs, sell offs, and restructuring) For the folks who say “we had layoffs in May”, they were baked into the plan via Ginni for a March execution date They had to postpone for 60 days due to Covid. Hopefully AK will figure out how to make money without the lay-off component which would most likely involve a joint venture where IBM sells the IP to the venture to capture their investment
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Gerstner’ s first 3 years were desperately needed by IBM His last 3 years were exactly as you have stated He made himself and the Exec management team rich at shareholder expense Now we’ll see where AK wants to lead. Self enrichment, or saving IBM.
I'm always conflicted about Gerstner. On the one hand, he rescued IBM from the mess that Akers had made, and injected some badly needed cultural change. On the other hand, he started the tradition of IBM CEOs (and other senior execs) acquiring vast personal fortunes at the company's expense.
And then we got Palmisano, another consummate IBM Insider, who continued all of the downside and self-enrichment of Gerstner with none of the upside.
Link to article referenced by @2hci
Man Arrested on Charges of $21 Million H-1B Visa Fraud Conspiracy –
https://www.justice.gov/usao-edva/pr/man-arrested-charges-21-million-h-1b-visa-fraud-conspiracy
It’s hard not to pass gas when you read words of hope that an ibm ceo will not do layoffs.
H-1B visa: Indian national arrested in $21 million fraud case