Big layoffs at IBM — reportedly thousands of heads roll.

  • Offering subsidized medical coverage through June.
  • “… historical employment ratings, age and seniority did not seem to matter,” says one anonymous ex-employee.
  • Follows layoffs by Airbnb, Uber, and HPE, and Dell suspended several staff benefits.
  • Unclear how much of this is related to the pandemic; IBM “has suffered years of failing revenue.”

In online forums Thursday, dozens of newly unemployed IBM workers, some who said they had been with the company for more than 20 years, lamented the situation and expressed fear over finding a new job in a recession. “With the Covid situation, it will be hard to find new opportunities,” one wrote.

IBM Announces First Job Cuts Under New Chief Executive

  • IBM had about 352,600 employees as of the end of 2019.
  • Cuts include the Watson unit, which was a big deal for the last CEO, Ginni Rometty, “but delivered lackluster results.”

IBM says it’s giving employees the opportunity to ‘compete for positions’ – Will that be a Thunderdome-type thing?

Mitch Wagner @MitchWagner