2ohi, good point.
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I can only comment that IBM is not the only tech company that is doing this. And this negative net tangible asset value company let go of their experienced hires who hold most of their intellectual IP, hire some cheap and new employees and give Marketing dept a bigger budget to build visibility and branding. The end of this will be like the sinking of the Titanic. The band was still playing just before the ship sank.
IBM is my company as much as Ginni's. Her performance is beyond poor, so why can't we just vote her out. I know I am being naive, but don't we equally have a right!!
Exec's live 1 quarter at a time and love to kick the can down street. Just like all large companies that follow this process they will become a much smaller company that will be split or bought. If you seen the Officespace movie, there is a line where the bobs' mention, lay off higher paid workers, bring in new grads and offshore work. That movie came out in 1999, so this has been going on for a way.
It's not just IBM... All multinational big companies do this to maximize profits... They don't care about employees. But nothing new, consider yourself a hired gun and be looking for how your work there adds value to you.
It's even more fun when they shift to Educated foreigners who barely speak English. They always want a Tech to come onsite to replace server parts, then try and trick them into configuring something they screwed up.
You are inexperienced, right? IBM has been like this for long time
Its a numbers game, after all the goal of the suits is to maximize shareholders' wealth. Eliminate and move jobs overseas or tax incentive states/provinces (1/10th) and watch that stock # spike (temporarily albeit) and clients Jumping ship (forget renewal) .. rinse and repeat next quarter. Hack of a company! Stay clear you are better than this.
Because if IBM gets rid of well educated, loyal employees who make $90,000 a year and then hire people in third world countries who are uneducated but make $15,000 a year, IBM sees that as a "win". Only in the short term of course, it will eventually lead to the demise of the company, but the people at the top don't care about that right now, they know they be sail away by then with their bags full of salary, bonuses, and stock options. Laughing all the way to the bank, and their ski chalets in Switzerland.