Thread regarding IBM layoffs

He-l of a job Ginni and IBM board Drinks all around

https://finance.yahoo.com/m/2e280406-93c5-3848-b9f1-8a2f6902396d/if-you-had-invested-10-000.html

The $1.5B cash payment to GF is yet another perverse example of IBM's cost-cutting mindset. At the time the deal was made, IBM Microelectronics was by all accounts a losing business...so IBM paid GF to take it off their hands. There was, however, one small problem...IBM wanted to retain priority access to the fab facilities, and not go to the back of the line behind all the other GF customers...hence the $1.5B cash payment.

@jyi+1maKCd36 - All true, not to mention that Ginni PAID $1.5B in cash, gave away two-thirds of IBM's $5B patent portfolio, and signed over physical assets valued at $4-5B as part of the Global Foundries deal! Just incredible and unparalleled stupidity and mismanagement on her and the Board's part. 😒

The attempt to whitewash her legacy with her new book makes me want to vomit.

Not saying Ginni wasn't bad, but Palmisano was definitely worse -

I have no idea what the story is in zSeries, but my outside novice's impression is that IBM just "gave up" with proprietary Power CPUs...GR's plan was to go fabless, open source the ISA to any producer, and hire chip foundries starting with GF. I wonder what happened with GF...maybe they were too busy making AMD's award-winning stuff! Hah.

That's what IBM gets for once again giving up on the hard work and looking for easy money.

The worst CEO in IBM history and now she is trying to re-write history and her legacy of complete failure by going around acting like the Mother Theresa of the corporate world. What a pathetic clown.

Definitely the worst CEO in high tech. Arguably the worst CEO in history. Should be behind bars, not a microphone.

Fu-k you Ginni

Maybe it makes her feel better. I just wonder who really runs IBM. Same CFO and same decisions. Got to protect the dividend I guess.

This shows the complete incompetence of Ginni as IBM’s CEO. The technological and financial mistakes she made are still resonating thru out IBM even today 3 years after she is gone. This was total CEO incompetence as she had no vision, and relied on financial wishful thinking to save her.

1. IBM decides to exit chip manufacturing in Oct picking GF as their partner. GF has a very checkered past both financially and technology wise, but Ginni presses ahead.
2. In Jan following the Oct announcement, IBM doubles down on this decision by exiting Intel servers assuming Power can fill the Intel server void.
3. Less than 2 years later GF informs IBM they are de-committing to the manufacturing road map of P10, thus extending P9’s life by 2-3 years. This decision by GF reduced IBM’s Power competitive advantage over intel to parity. Essentially this allowed Intel to catch up technology wise, and made intel “good enough” for 85% of the Power install base.
4. Samsung steps in 4 years after GF to fill the P10 GF void, but it has to watch Power volumes shrink exponentially due to Intels parity.
5. Power never recovers after the GF fiasco and enters the replacement business model cycle.
6. IBM watches a greater than 6 billion dollar server business crater to less than a 2 billion dollar server business. This oops perpetuates thru out IBM’s services delivery model with exponential revenue losses following.
7. IBM has no technology back fill for the Power business loss and is forced to change course to Redhat and concentrate on Mainframe as Linux on Power was still born.
8. AK now has a business line that can’t generate the volumes nor the profits needed for P11 investment.
9. Hard choices now have to be made HW/Server wise as profits can’t support IBM’s dual server strategy
10. Ginni continues to try and justify her incompetence