IBM ask for voluntary redundancies

Stefan Mileschin · 5th March 2024, 08:01

While sharpening its axe

Big Blue wants to become smaller and asks workers who want to quit with a pay-off to put their hands up as it starts a new round of global sackings.

Most of the “Resource Action” cuts will hit Europe and some departments. It should not shock anyone who knows a bit about IBM as the moves were hinted at last month in a fourth-quarter earnings call when CFO James Kavanaugh said he wanted to save "$3 billion a year by the end of 2024.

Biggish Blue said the latest move is not about saving cash but "transforming" the company.

More than 80 per cent of the cut target will be from Enterprise Operations & Support (EO&S) and Q2C missions, and Finance & Operations (including Procurement, CIO, HR, Marketing & Comms and Global Real Estate).

The European Works Council has told staff that about half of IBM's cut goal will hit staff levels across Europe.

https://fudzilla.com/news/58564-ibm-...y-redundancies

5th March 2024, 08:01	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,738	IBM ask for voluntary redundancies While sharpening its axe Big Blue wants to become smaller and asks workers who want to quit with a pay-off to put their hands up as it starts a new round of global sackings. Most of the “Resource Action” cuts will hit Europe and some departments. It should not shock anyone who knows a bit about IBM as the moves were hinted at last month in a fourth-quarter earnings call when CFO James Kavanaugh said he wanted to save "$3 billion a year by the end of 2024. Biggish Blue said the latest move is not about saving cash but "transforming" the company. More than 80 per cent of the cut target will be from Enterprise Operations & Support (EO&S) and Q2C missions, and Finance & Operations (including Procurement, CIO, HR, Marketing & Comms and Global Real Estate). The European Works Council has told staff that about half of IBM's cut goal will hit staff levels across Europe. https://fudzilla.com/news/58564-ibm-...y-redundancies

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