There were multiple rumors that cuts may be happening in early February - any updates as of today?
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IBM shares falling faster than market of late. Big holder is dumping shares. Mr. Tech himself ..Warren Buffett losing the faith too?
Look at the messages below, a few groups got hit - there is a ton of rumors taht GTS will be hammered - I am surprised here as they (Ginni & Co.) have been talking about how well GTS has been doing lately, apparently they are making money again - beats me --- read more here:
http://www.theregister.co.uk/2016/02/05/ibm_gts_redundancies/
From the article:
On GTS:
GTS operates four service areas: Strategic Outsourcing, Integrated Technology Services, Technical Support Services (TSS) and GTS Delivery. It is not yet clear how the workforce cuts will be divided.
On Layoffs:
IBM has entered into a 45-day consultation with UK staff in the Global Technology Services division, El Reg can reveal.
Blackburn's note:
In a note sent to full-time staffers on 3 February, Martin Blackburn, GM of the local GTS operation, confirmed Big Blue is forming an Employee Consultation Committee (ECC).
This is to “represent the permanent employee population of the IS Delivery, Client Management and Client Excellence business areas in the UK,” he stated.
The ECC to the rescue:
The ECC is to include elected reps plucked from management and the wider workforce, who will gather around a negotiating table to thrash out “proposals for the organisation to meet its business needs”.
Now this is funny:
Lovely corporate speak for IBM wanting to squeeze out more profits than the business unit is currently able to.
Feb to March timeframe
The consultation process commences on 15 Feburary and runs until the end of March. Sources told us one hundred plus employees are at risk of redundancy but this was unconfirmed at the time of writing.
"Immediate details are 'our cost level remains high', implying IBM management feel they they can get cheaper service elsewhere, even if service quality is lost," said one insider.
Yes, layoffs never stop at IBM:
According to our source, IBM has undertaken "strategic 'resource actions'" every six months for the past year and a half
Fifth round of layoffs in 24 months:
"This will make the fourth round within 24 months by the time this is complete," our source claimed.
Look at the messages below, a few groups got hit - there is a ton of rumors taht GTS will be hammered - I am surprised here as they (Ginni & Co.) have been talking about how well GTS has been doing lately, apparently they are making money again - beats me --- read more here:
http://www.theregister.co.uk/2016/02/05/ibm_gts_redundancies/