Mass RA in finance in the US, subk’s being asked to take multiple days furloughs before end of June. What’s happening in other countries, pls comment.
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There are client-imposed limits to the number of employees that Kyndryl can fire. At the end of the day, service agreements are in place between Kyndryl (IBM before it) and each customer, and those agreements must be followed. Kyndryl will try to reduce headcount in any way they can, but they can only go so far without breaking the contract terms. Agreed-upon services must be provided, and agreed-upon headcount (yes, there is such a thing) must remain employed at all times. That's what the customer is paying for, and it's Kyndryl's problem if they can't make profit from that revenue.
That's why contract starts and ends are so critical...they provide the timeframes that both Kyndryl and their customers can use to "reset the terms" of existing contracts.
I am really surprised they have not pulled that trigger by now. They can not sustain this level of workforce, and be carrying all the massive debt they have.
Witch hunt !!!!!!!!!!!!
Same for asia
Last year the let go of people who was with the companies for 20 to 30 years. This Q they are also going to let go
In Europe it was happening last 2 years. Less staff, more job, same money although they always promise salary raises are so so soon... Instead of teams there are pods. Definitely less managers needed, I've heard 1/3 managers lost their job but not sure about official statistics. Some job roles had been removed completely like service coordinators. I think with new tools capacity mangers are gone too. It somehow still works. I don't wanna scare anybody but hope for the best and be ready for the worst.
It's time for some serious reductions in headcount Get ready! There is no new business / clients begging to get out of existing contracts.