IBM is quietly axing jobs, source says

holografix

They’ve been doing it for so long I’m surprised they have any jobs left to axe.

Sam Palmisano skinned IBM then too a knife to its belly and gutted it. All in the name of his “Roadmap 2010” which was a plan to double the share price by 2015.

So basically the pharaoh said “fuck it, we need a new pyramid. Get the whips out and all worker carcasses are to be dump on the left please”.

https://www.forbes.com/sites/stevedenning/2014/05/30/why-ibm...

Edit: roadmap 2010 not 2015

farceSpherule

NDA's don't matter. There are ways to leak the information anonymously.

javiramos

I always thought that IBM was a declining giant. I just looked up their share price and it has done strikingly well over the past 2 years. Their revenue has also been growing, albeit slowly. Maybe capitalizing on the AI buzz?

https://finance.yahoo.com/quote/IBM/

myth_drannon

And they say we don't have ageism in the industry... :

"As with prior layoffs, or "resource actions" to use IBM's euphemism, we're told those affected are substantially in the 50-55 age bracket with 20-24 years of seniority.

"It seems exclusively people in L7 and L8 and L9 bands, at the top of the band in payment structure," the insider said.""

xyst

With the fed rate cuts, IBM will probably be hiring back those same folks

rowanG077

Why would you sign an NDA when beeing fired? So you het some severance pay?

datavirtue

Are these the jobs axed by AI? Would seem to make sense, since the CEO said they were going to replace 5800 jobs with AI.

zeptian

why is this news ? they do it twice a year.

they have way too many employees, and it will take them a decade of such cuts to "rightsize"

alphazard

> As with prior layoffs, or "resource actions" to use IBM's euphemism, we're told those affected are substantially in the 50-55 age bracket with 20-24 years of seniority.

> Despite numerous past and ongoing age discrimination lawsuits, IBM maintains it does not systematically discriminate on the basis of age.

Lawsuits of this sort are a little ridiculous. If you work at a company that pays people more just for being older, then you shouldn't be surprised when the "more experienced" people are the first to get laid off.