More details as we find out more.
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I'm 55, highly experienced, Band 10, well paid. I expect to be at the top of the RA spreadsheet. Does IBM still offer "retirement" to avoid counting people as layoffs?
RA's s---, but worrying about s---s even more. If you're in the states, the market is hot.. Start looking now and don't wait for measly 30 days severance. If you've taken any vacation already, make sure that you've noted that as PTO and not vacation. Vacation time must be paid, but unless you're in California PTO isn't.
We need 100K people out to be competitive.
We have an all hands this week which is to “communicate organization changes.” GBS.
Coming for global markets too. May be after quarter end, but by July 30 for sure. At least hundreds in the us.
It's time to iron those big boy pants and be ready to bolt bluebirds.
This is a blessing in disguise for anyone stuck in a ghetto town innovation center.
IBM has already announced a 500-700 million dollar charge for 2019 layoffs. IBM pay third world vs first world tends to run at 25 cents on the dollar. Using first world numbers of 10,000 heads per billion, we extrapolate down into a lay-off of approx 20-28k. We can back into the number another way. It’s an industry standard to adjust head count to revenue. IBM’s 1st q revenue went down approx 5% over the corporation, with services going down 7%. Backing into a number says 5% worldwide head count cut, or 7% head count cut in services. So 350k x .05 = 17.5k to 24.5k if we use the 7% number. So expect restructuring somewhere in that range. If IBM wanted to get ahead of that number instead of constantly chasing constantly declining revenues, they may error closer to the 7% number. Either way IBM’s long term goal is to trim to 225-250k as that is where their historical optimum employee head count vs revenue has always run. There are large parts of IBM who’s business plan has run its course, and IBM doesn’t value anymore. The market has matured and moved on, and IBM is doing the same
And this time it's not only US but all over the world.Heard even developing countries where work are outsource are also not spared.Its going to be blood bath by end of next week.
For the record, last year many of us were given two weeks notice and 30 days severance. That is after 30+ years of service and good skills in cyber security.
If IBM wants this all done by end of June, I would expect folks to start hearing next week. That would align with the 30 days notice policy