Is IBM firing employees in India?
IBM’s Indian CEO Fires Thousands Of Employees; Even Artificial Intelligence Teams Are Killed. IBM has started firing thousands of employees, to save costs and to maintain their profits.
What does IBM make now?
For the fiscal year 2020, IBM reported earnings of $5.6 billion, with an annual revenue of $73.6 billion. IBM’s revenue has fallen for 8 of the last 9 years.
Is there any layoff in IBM?
BENGALURU: Within 50 days of his taking charge, IBM CEO Arvind Krishna has undertaken a major layoff exercise globally. This includes, sources said, a few hundred jobs in India, where IBM has about a third of its global strength of 350,000.
Why IBM is not doing well?
First, IBM has considerable debt levels that limit its ability to pay for larger takeovers. Per the most recent 10-Q, IBM’s net debt stood at around $47 billion, factoring in cash and securities of $8 billion, $8 billion of short-term debt, and $47 billion of long-term debt.
Are IBM layoffs a lesson in crisis leadership?
IBM layoffs – a lesson in (bad) crisis leadership? – TechHQ IBM layoffs – a lesson in (bad) crisis leadership? When it comes to layoffs, IBM traditionally doesn’t disclose numbers. But perhaps the rules should change in a crisis. Arvind Krishna was promoted to IBM CEO in April 2020. Source: AFP
What is IBM doing with dumped workers in America?
IBM, which employs 350,000 globally, told us that dumped workers in America will receive “subsidized medical coverage … through June 2021”. The forums we’ve probed agree that staff have been given 30 days of notice, and 90 days of severance pay.
Is kyndryl going to spin off from IBM?
IBM currently plans that within the third quarter of 2021, Kyndryl will commence operations within IBM in most countries. Kyndryl will then spin off from IBM as a separate publicly traded company on a date to be announced, subject to the satisfaction… — read more A friend who was laid off about a year ago just started his new job.