IBM cutting 111,800 of its staff.

A report by a respected Silicon Valley journalist for Forbes says around 26% of the company's 430,000-strong workforce will be cut this week.

The company's reorganisation is codenamed Project Chrome, and most of the staff being laid off are in the US.

It has revenue of around $90bn (£60bn) and is one of the most profitable companies in the US.

Yet more staff are getting cut from a company making billions in profit and they will probably re- hire over seas staff at a fraction of the cost of staff in the U.S

Good luck guys you will need it in the job market out there , But business is booming according to the government

Yet another great old brand being run to the ground

www.msn.com...

originally posted by: douglas5
A report by a respected Silicon Valley journalist for Forbes says around 26% of the company's 430,000-strong workforce will be cut this week.

The company's reorganisation is codenamed Project Chrome, and most of the staff being laid off are in the US.

It has revenue of around $90bn (£60bn) and is one of the most profitable companies in the US.

Yet more staff are getting cut from a company making billions in profit and they will probably re- hire over seas staff at a fraction of the cost of staff in the U.S

Good luck guys you will need it in the job market out there , But business is booming according to the government

Yet another great old brand being run to the ground

www.msn.com...

Wow....that is an enormous layoff. I have/had a lot of friends that work for IBM....will have to touch base with them to see how they fare.

they have been a cornerstone of our technological advancement, sad they couldnt keep it up

obviously a big problem for investors

a reply to: douglas5

Computers now able to do the jobs people used to maybe?

Seems to be happening everywhere...
The start of the robot apocalypse is upon us.

My brother got laid off from IBM back in October. He was a contractor and they started letting go all the contractors first. (He is still unemployed)

He hated it there, says they have no idea what they're doing and the customer service is getting worse.

That's funny, because IBM just hired 6,190 H-1B foreign workers from India last year. This is not a sign of IBM struggling or failing or going under - this is just another American company gutting its American work force in favor of dirt cheap tech workers they can import for a fraction of the cost of their traditional American worker. Guarantee you, that if you compare the hiring of H-1B workers at IBM in the past few years to the number they have laid off or fired, there will be a strong correlation.

originally posted by: Blackmarketeer
That's funny, because IBM just hired 6,190 H-1B foreign workers from India last year. This is not a sign of IBM struggling or failing or going under - this is just another American company gutting its American work force in favor of dirt cheap tech workers they can import for a fraction of the cost of their traditional American worker. Guarantee you, that if you compare the hiring of H-1B workers at IBM in the past few years to the number they have laid off or fired, there will be a strong correlation.

That's exactly what's happening here. Thanks for posting this.

a reply to: douglas5

Well look at it this way... they can all become welders and HVAC techs! Oh wait we dont need those as much as everyone says we do...

Yup, a basic income and a smaller workweek is where we are going people. Its unavoidable why do we continue to resist it?

'Have been a contractor with "Big Blow" for nearly 20 years. They keep laying folks off and bringing them back as contractors with no benefits and no guarantee of continued work. Then, they reduce the contractors' hourly rates. The shareholders are happy; everyone else -- not so much. I've been lucky to carve a niche where they seem to need me, but it's a strange working environment. At one point, I had a team of 10 people managing little ol' me, and I was the only one actually doing any work.

a reply to: Silcone Synapse

People built the computers that will replace them eventually and now everything is managed by computers all the time tables for work and re- supply of stock , we now work for computers.

When i was a kid there was a comic called 2000 ad where millions in Mega city 1 would line up for the most menial of jobs i think that day is fast approaching with 3d printing getting going and making houses.

Humans will be redundant maybe they will keep a few of us alive to service them

originally posted by: douglas5


Good luck guys you will need it in the job market out there , But business is booming according to the government

Yet another great old brand being run to the ground

www.msn.com...

But....but...the government said or economy is booming! Look at the unemployment stats!

Just more evidence that anything you hear on MSM is complete fabrication.

Shadow Stats tells the real story on unemployment, inflation and GDP

The government's latest jobs report which noted a decline in the unemployment rate, as well as additional economic data, was largely bogus -- filled with distortions, misrepresentations and, if not outright lies, then the next closest thing to it.

"The government lies about everything"
"As increasingly has become the common circumstance, the upside revisions in headline monthly numbers simply are constructs of highly unstable, inconsistent and questionable seasonal adjustments being shifted between months," he wrote, as quoted by Roberts

In reality, Williams noted, overall unemployment in December 2014 was far higher -- 23 percent, in fact -- when counting all potential workers, especially those who have become discouraged and have dropped out of the search for employment.

www.naturalnews.com... hadow_Stats.html

originally posted by: graceunderpressure
'Have been a contractor with "Big Blow" for nearly 20 years. They keep laying folks off and bringing them back as contractors with no benefits and no guarantee of continued work. Then, they reduce the contractors' hourly rates. The shareholders are happy; everyone else -- not so much. I've been lucky to carve a niche where they seem to need me, but it's a strange working environment. At one point, I had a team of 10 people managing little ol' me, and I was the only one actually doing any work.

Your post reminded me of this.

This just in...

IBM does not comment on rumors, even ridiculous or baseless ones. If anyone had checked information readily available from our public earnings statements, or had simply asked us, they would know that IBM has already announced the company has just taken a $600 million charge for workforce rebalancing. This equates to several thousand people, a mere fraction of what’s been reported.

a reply to: onequestion

People are just dropping out of trying to find work or claim benefits here in the u.k as it is so difficult , with foreign labour willing to work hard for bottom dollar

I will take out my old IBM Thinkpad and remember happy times tonight and maybe try linux puppy on its 256 mb of ram

originally posted by: Zarniwoop
This just in...

IBM does not comment on rumors, even ridiculous or baseless ones. If anyone had checked information readily available from our public earnings statements, or had simply asked us, they would know that IBM has already announced the company has just taken a $600 million charge for workforce rebalancing. This equates to several thousand people, a mere fraction of what’s been reported.

Good find Zarniwoop it goes to show that you have to take everything with a pince of salt on the interweb

hoax bin get ready

a reply to: Zarniwoop

Very smoothly put. But "workforce rebalancing" actually means replacing higher-cost employees with lower-cost contractors, many of whom are located...well...abroad. Most of the replacements do not have the same skills as the outgoing employees. So the quality suffers and the remaining employees are forced into doing 10x the amount of work.

a reply to: douglas5

Good way to learn how to program and get started with unix and linux.

a reply to: douglas5

Don't jump the gun on the hoax bin yet, this is being reported pretty far and wide as a 25% work force reduction.

www.itworld.com...

www.cultofmac.com...

metro.co.uk...

report24.co.uk...

I'll wait for the dust to settle to see who was telling the truth - and I will be very surprised if it was IBM, given their duplicitous treatment of traditional workers in the past. IBM has been one of the driving forces in the supplanting of workers with cheap foreign imports on the H-1B visa program.

a reply to: Blackmarketeer

I did see this story across a few sources and when Forbes carried it you kind of go with it

a reply to: stosh64

The video is pretty accurate to the way that many IBMers feel. But, I decided a long time ago to treat the relationship with the company as a purely business association. And, unlike the bloke in the video, I set about making myself indispensable to them and maintaining the highest quality work -- for myself -- to keep them as a "customer." Gone are the rah-rah company days. Unless you're self-motivated, you won't survive in this environment.