Reduce their work force by 3/4? When did they announce this? How has it been kept so quiet?
Who knows why? We’ll see if Cavuto talks about it tomorrow.
**The direct impetus for this column is IBM’s internal plan to grow earnings-per-share (EPS) to $20 by 2015. The primary method for accomplishing this feat, according to the plan, will be by reducing US employee head count by 78 percent in that time frame.**
Thick severance packages and a fat stack of paperwork accompanying. I know two people that were "let go" from IBM in the past couple years. Entire departments are being killed off quietly.
They probably have a man in Washington to smooth things over.
IBM, though still showing goof financial results, is out of gas. Like Microsoft and many other behemoth entities, IBM would benefit from breaking itself up into much smaller, leaner, and smarter operating units (Lenovo, anyone?). They still have some very good products and services, but molding the whole thing together into one package with a famous label on it hasn't worked very well - and the days when "Nobody ever got fired for buying IBM" are pretty much over.
They’ve always managed to keep things quiet, including pretty massive lay-offs. They’ve laid off basically all of the dead wood in the U.S., outsourced every job they could, and now are laying off the good workers (around 2,000 more just a month+ ago).
“Roadmap 2015” is affectionately known as “Roadkill 2015.”
All employees were given stocks that would vest in 2015, most people figured they would never see that stock.
The U.S. count has gone from about 150,000 in 2000, to 98,000 now. IBM doesn’t release numbers, but there are other websites/places that keep track.
This is the first I’ve heard of this “plan”, but I can believe it. The “bean counters” run the company and they are not known for looking into the future very far.
The end result will be another U.S. company destroyed as they get rid of the “Dead Wood” also known as older employees with all of the experience necessary to keep things running smoothly.
It was announced a few weeks ago. It hasn’t been kept quiet, at least not if you’re in the software industry.
IBM has not been publicizing their downsizing. Business Insider reports on layoffs and unhappiness among IBM sales people.