https://www.theregister.com/2023/04/04/ibm_and_kyndryl_are_cutting/
"IBM services spinoff Kyndryl has confirmed it's laying off staff while Big Blue is also shedding employees, as part of the industry-wide job cut contagion that has plagued the tech sector over the past few months."
It is all to accurate, this company is shedding the older more expensive workers as it claims to be getting back to profitability. Well that's one way to do it.
They are playing smoke and mirrors with wall street.
The consulting pipeline is empty for the forward 4-6 months. They are panicking and laying off the front line consultants.
Seems counter productive if they want to grow the business. But corporate fiduciary responsibility to shareholders is a thing of the past
Kyndryl is a corporate entity just like any other. It's not unique, it's not special and it's certainly not moral in it's behavior. The strategic goals are shareholder value and worker displacement - which they frame as delighting customers. To expect anything other than this sort of thing is pretty unrealistic and all people can do is let the world know that they need to do better. Go to work at these places knowing what they really are and level set your expectations. Know that the transactional nature of outsourcing means little real loyalty and security.
I think there will be more lay-offs down the road.
Kyndryl bosses are gone before the employees. I’ve lost my job and it’s getting worst for my old team. The worst thing I feel is the customers and the end
The apple doesn't fall far from the tree :-/