I've heard some rumors about potential layoffs this month, I'm hoping somebody here could shine some light on it (or preferably tell me it's not true).
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@6dn oops, posted on wrong thread.
@68y We never signed a negative I&E deal, GTS yes, but only if the upside potential was great. Pricers did not throw darts at pricing, the deal team met with the Pricer and we considered GP and AXP's price need - this for the larger deals. I worked the contracts and MSA renewals. After doing the same for other accounts, AXP's was by far the most organized and clearly written. I miss working that account, great people on both sides, a true partnership. Have no idea what is going on now with Kyndryl.
@4gp IBM signed many terrible deals insider to sell software and hardware and financing… IBM pricing teams were literally using dart boars to figure out pricing and were often signing negative gp deals!!
The goal is to mimic infosys, the only staff in the USA is client facing sales roles, consult roles, and restricted account support; otherwise everything else will be shifted off shore…. Including lower executive roles. This tears target to move is over 1000, this erosion’s will continue until kyndryl is a clone of the Indian firms and can then be sold off or merged for a big profit to executives!
@4gp I came here to say pretty much this. Managers are constantly being told to reduce their costs. They will do this through any means necessary.
For some, layoffs is their first move. For others, they will lopk everywhere else for savings before laying people off.
Some others will push back until they are the ones laid off.
As someone that was 'benched' a few years ago from KD I can honestly say the process is a continuous one. They are looking to cut as much as possible to squeeze whatever margin they can out of this whale. IBM was cutting the day I joined a couple of decades ago and I survived for 20 years until there was almost no one left. No one I started with was there at the end. They finally came for me and they will come for you.
Count on it.
IBM could not make GTS work in the modern era and these days no one even cares who Kyndryl is...always have one eye looking to an exit.
Always.
Beach houses will be confiscated by the federal government. Just a matter of time.
I think cooking the books is the definition of a house of cards (and thieves)
Easy to answer. There is no new business coming in, growth is just a word at Kyndryl.
@17f why is this a house of cards? can you elaborate ... all IT companies seem stuck and outdated. why is this any different?
I’m on one of the larger accounts in the US. Not hearing of layoffs but attrition losses aren’t being backfilled from what I can tell.
I was part of a small team Ireland who were made redundant as a costcutting measure. We were initially told our jobs and skills were no longer required - before being asked to train up cheaper replacements doing exactly the same job. There were no serious attempts made to retain or help us find alternative roles in Kyndryl. At a time when the company boasts about growth and increasing revenue it is quite sickening and what happened to us appears to be their only path to profit.
There is NO NEW business. Already "partnered" with everyone but the The New York City Department of Sanitation. House of cards is falling down. Beach houses will become the property of the federal government. It's finally ending.
@OP I am asking my associates but nobody heard any news.