IBM has been going through some restructuring as of late.
There are tons of rumors that they are going to layoff 16,000 US workers next week on Jan 23rd.
Here is a news article about it
Of course, panic has spread wide and far within IBM. As someone who speaks with IBMers on a constant basis, they are not only concerned, but pretty
much SOL compared to other companies going through layoffs of the same size and caliber.
A friend from Lehman got laid off after two years and got 6 months severence.
A friend from Citi just got laid off two weeks ago after being there 9 months and was told not to come to work until March (they still get a check),
and at that point a decision will be made and if let go they will get 2 more months pay.
IBM... well... you get 1 week for every 6 months you've worked there. Been with the company 3 years? Well you get a 1.5 months.
The really odd thing is that ever since these rumors have started flying and panic hit the IBM workplace, IBM starts announcing all of these other
"JOB CREATION" news items...
Evidently they are building a center in Iowa, and Michigan. They are also continuing to purchase businesses.
So what about these layoffs? Will they come to pass?
Only time will tell (Next week) but unless they are just making room to pay the employees of the newly acquired businesses, I'm not so sure. Some
speculate it's to offset the layoff bad news
Either way, it does appear that if you are someone who wants a position and severance packages are part of your decision making process... you are not
going to get much out of IBM compared to the financial industry.
Then again... IBM never received a bailout from Uncle Sam....