Good news for Big Blue's market cap, not so much for its workers
https://www.theregister.com/2020/10/14/ibm_newco_spinof?fbclid=IwAR0URnWEi7rEz_8mGbZ-gyPGlZAEyWfGbUPm_kHxT7zyIqkpli0hBA1AjPw
2 replies (most recent on top)
We will have to wait and see what the options are for the GTS overhead IBM could easily trade the older (retirement eligible) staff to Newco as the “overstuff of the spinoff” Retire as an IBM’er on Friday, and show up as a Newco employee on Monday drawing your IBM retirement (double dipping) It will take Newco several months to figure out who is worth staying and who has to go When they finally decide, Newco could be stingy BUT you got paid for Newco’s expected due diligence. IBM avoids the 30/90 payment and bad publicity, and Newco absorbs the stingy layoff objective as part of its efficiency drive. I fully expect this to be part of the reorg as IBM has to drive for efficiency and AK is all about not taking any more restructuring charges That’s why he outlined them in the 2.3 billion 4th q charge
Same article being discussed a this post: @OP+17qzxx7i