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IBM Layoffs

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posted on Jan, 16 2009 @ 11:36 AM
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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

www.itjungle.com...


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.


Either way...

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....




posted on Jan, 16 2009 @ 11:46 AM
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Originally posted by HunkaHunka

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?



I hear ya.
But Big Blue is old school and hopefully they will keep doing what is needed to maintain supremacy in their field by investing and expanding. If that’s the case then this makes perfect business since and that could be off setting those numbers.

If they can expand while others are contracting they would in theory solidify their prominence in the market and if while other companies are reducing R & D they are investing in it so when things stabilize that would put them in a tremendous leading position.

Good old school business
tried and true



[edit on 16-1-2009 by SLAYER69]



posted on Jan, 16 2009 @ 11:51 AM
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reply to post by HunkaHunka
 


I know what you're saying, but you're really comparing apples to oranges at this point. You can't compare the severance packages of two companies which have filed bankruptcy, liquidated, and will no longer exist in a matter of months (or already no longer exist in lehman's case) with a comapny which has every intention of remaining in business and is just trying to prune employees off the tree to survive the recession.



posted on Jan, 16 2009 @ 12:08 PM
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reply to post by burdman30ott6
 


Good point.


When you are letting your entire workforce go, severance is an entirely different issue and much more public than if you are simply letting 10% go to make room for more growth.


Plus... the bailout gave these financial houses deeper pockets and I'm sure the GOV said "You have got to keep capital in the pockets of the tons of employees you are laying off based on the negative impact it would have on the economy at large"

16,000 at IBM doesn't really compare I guess to these larger bankruptcies.


I was chatting with that friend you had been laid off from citi and he said the funniest thing...

"I guess it's my fault because I never anticipated the US going Bankrupt and CITI being the cause for a lot of it"



[edit on 16-1-2009 by HunkaHunka]



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