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'Bloodbath:' IBM workers report job cuts are underway (EMC also announced cuts)
WRAL TechWire ^ | Jan 28, 2015 | RICK SMITH

Posted on 01/29/2015 6:44:57 AM PST by FR_addict

Research Triangle Park, N.C. — A "resource action," or layoffs, are underway at IBM (NYSE: IBM) under the name "Project Chrome," workers are telling the Alliance@IBM Union.

"Bloodbath today," wrote an IBMer in Columbia, Mo. "Me? Yes, RA'd."

“At a time when IBM is aggressively transforming, the company continues to rebalance its workforce to meet the changing requirements of its clients and to lead in new, high value segments of the IT industry, including cloud, analytics, mobile, security, social and cognitive computing. This is not new news," IBM said in a statement. "IBM announced a $600 million workforce rebalancing charge in 4Q, 2014.” ...

(Excerpt) Read more at wraltechwire.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: ibm; layoffs; rebalancing; transformation
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IBM - EMC layoffs

http://finance.yahoo.com/news/data-storage-company-emc-gives-134911715.html

http://wraltechwire.com/ibm-workers-report-job-cuts-are-underway/14399347/

1 posted on 01/29/2015 6:44:57 AM PST by FR_addict
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To: FR_addict

Rebalancing. I had not heard that one. (And a good thing for me.)


2 posted on 01/29/2015 6:47:21 AM PST by Genoa (Starve the beast.)
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To: Genoa

I have been “Suplused”...


3 posted on 01/29/2015 6:49:40 AM PST by Syntyr (Happiness is two at low eight!)
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To: Genoa

I got “right sized” once.


4 posted on 01/29/2015 6:49:49 AM PST by WakeUpAndVote
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To: Genoa
Yeah, it used to be "right-sizing". Shows how far behind the times I am, I suppose.

Life goes on... Now is the time that the people effected find out who their friends are.

5 posted on 01/29/2015 6:51:11 AM PST by OKSooner
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To: FR_addict

The only thing new here is the acronym


6 posted on 01/29/2015 6:51:13 AM PST by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
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To: FR_addict
IBM announced a $600 million workforce rebalancing charge in 4Q, 2014

Ah. Yes. Being a former bookkeeper, I understand what this means.

On the balance sheet, hey moved 600 millon dollars from "Payroll Expense" to "ObolaCare Tax".

7 posted on 01/29/2015 6:53:14 AM PST by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: FR_addict
“At a time when IBM is aggressively transforming, the company continues to rebalance its workforce to meet the changing requirements of its clients and to lead in new, high value segments of the IT industry, including cloud, analytics, mobile, security, social and cognitive computing. This is not new news," IBM said in a statement. "IBM announced a $600 million workforce rebalancing charge in 4Q, 2014.”

In other words, more layoffs will be coming, and IBM doesn't like it when someone else decides what is newsworthy.

8 posted on 01/29/2015 6:57:22 AM PST by Alex Murphy ("the defacto Leader of the FR Calvinist Protestant Brigades")
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To: FR_addict


9 posted on 01/29/2015 6:58:45 AM PST by Iron Munro ("Alcohol, Tobacco and Firearms - Open Up!" "Must be another UPS delivery, honey.")
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To: FR_addict

I have suspected for a year that many companies were being paid off to wait on the big layoffs till after the 2014 elections.


10 posted on 01/29/2015 7:07:19 AM PST by Zathras
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To: WakeUpAndVote

So far I’ve been able to avoid re-balancing, restructuring, and best-shoring and so far the 5 year recovery plan. Be interesting to see how I end up with company splitting into two.


11 posted on 01/29/2015 7:08:49 AM PST by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: Genoa
Rebalancing. I had not heard that one. (And a good thing for me.)

I perfer the term decruited.

12 posted on 01/29/2015 7:08:54 AM PST by DoodleDawg
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To: Zathras
I have suspected for a year that many companies were being paid off to wait on the big layoffs till after the 2014 elections.

If the could do that then they would have paid off the oil companied to slash the gas prices in half back in October.

13 posted on 01/29/2015 7:10:13 AM PST by DoodleDawg
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To: FR_addict

EMC is taking a charge that is 25% of IBMs (150,000,000).
Wonder how many other companies are laying off this quarter.

http://finance.yahoo.com/news/data-storage-company-emc-gives-134911715.html

EMC Corp , which has been under pressure from activist investor Elliott Management Corp, forecast a lower-than-expected profit for the year and said it would cut jobs.

Elliott, led by Paul Singer, has urged the company to spin off its virtualization software unit VMware and pursue merger opportunities to “maximize long-term value”.

The company reached a standstill agreement with Elliott this month, under which the investor agreed to refrain from agitating the company until September.

EMC company said on Thursday it expected to take a charge of about $130 million-$150 million in the first quarter ending March related to the restructuring charges.

The company did not specify the number of jobs it would cut...


14 posted on 01/29/2015 7:10:32 AM PST by FR_addict (Boehner needs to go!)
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To: FR_addict
Here are a couple of articles from Forbes. Apparently IBM is going to play down the number of layoffs by giving tens of thousand of employees sub-par performance ratings and then firing them for cause. The headcount reduction is the same in the end.

Anatomy of a Layoff

IBM Axe Starts Chopping

15 posted on 01/29/2015 7:13:56 AM PST by DoodleDawg
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To: Zathras
I have suspected for a year that many companies were being paid off to wait on the big layoffs till after the 2014 elections.

I suspect most were not paid, but coerced with threats from the emperor's regime. Also, a lot of the CEOs are lefty supporters of the emperor, so they were happy to play along.

16 posted on 01/29/2015 7:17:29 AM PST by The Sons of Liberty (OK. Now How many votes do we need to IMPEACH and REMOVE the bastard?)
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To: FR_addict
If your boss has a stack of the book "Who Moved My Cheese" in his office it's a bad sign. I found this out the hard way.
17 posted on 01/29/2015 7:17:49 AM PST by Menehune56 ("Let them hate so long as they fear" (Oderint Dum Metuant), Lucius Accius (170 BC - 86 BC))
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To: DoodleDawg

I read about that. That’s playing pretty dirty. Some of these employees have been around forever and never received bad ratings. All of a sudden they are receiving crummy ratings.

I read that if your review is low they are cutting the severance and calling it performance related. Super dirty of IBM. Now, these ex-employees will be trying to find jobs with bad performance reviews.

Here’s a site for comments:
http://www.endicottalliance.org/jobcutsreports.php


18 posted on 01/29/2015 7:19:06 AM PST by FR_addict (Boehner needs to go!)
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To: The Sons of Liberty

“I suspect most were not paid, but coerced with threats from the emperor’s regime. Also, a lot of the CEOs are lefty supporters of the emperor, so they were happy to play along.”

I think you are right.


19 posted on 01/29/2015 7:20:36 AM PST by FR_addict (Boehner needs to go!)
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To: Genoa

I once quit a job working for United Airlines... They refused to let me quit saying I had to come in for my ‘exit interview’. As far as I know, they are still waiting for me..


20 posted on 01/29/2015 7:21:09 AM PST by ArtDodger
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