And the survivors get the RA'd people's work piled onto them. Anyone in global markets get laid off? They have been pushing move to "low cost countries" (specifically India) since last year, even when the work cannot be completed in those countries in some cases due to compliance. IBM is not a senior care facility - it is a Technology company in the business of making $ for its shareholders - the sooner the old geysers understand this, the better their 'bridge to entitlement' will end. Please see this article for details: https://www.nytimes.com/2002/01/13/business/personal-business-when-pension-and-unemployment-checks-don-t-mix.html. If you want a job for life after 60 - join Politics and run for President and stay out of corporate america - those jobs are for the newer, younger thoughts and ideas. Unreal. Their failure to put the senior level employees in front of sales opportunities coupled with poor sales and offshore to India sealed our fate. Apparently my blue-badges took it on the chin yesterday. The tech industry has suffered widespread job losses after the coronavirus pandemic triggered a severe recession. “This was far ranging -- and historical employment ratings, age and seniority did not seem to matter,” he said. Wait till it's your turn. I’m wondering if this is legally right (not to mention that management knew about my upcoming maternity leave that I would be starting in mid July from the very beginning). I am fortunate enough to have the old IBM pension and am celebrating one year of getting my guaranteed monthly disbursement for life.
Is layoffs still going on in the US or it's completed on May 22nd? IBM Security, received a 1:1 meeting request today from my manager for tomorrow (Thursday). The bottom line is the bottom line. The company …
They eliminated our department of PDMs and those of us that were close to 55 were blacklisted from getting a job in another department. S&P 500 Tumbles Most in a Month on Virus Spread: Markets Wrap, Czechs Impose Curfew; Warnings in U.S. Midwest: Virus Update, Bond Defaults Deliver 99% Losses in New Era of U.S. The person asked not to be identified discussing a sensitive topic. Team has been good. For reprint rights: Times Syndication Service, Airtel introduces cloud-based communications platform for business, Opening bell: Equity indices open in the red, Kotak may buy IndusInd Bank, says a report, Now, Amazon gets stay on RIL and Future Group deal, 7 meal replacement shakes for weight loss, Upto 70% Off On Diwali Gifting Items In Amazon Sale, Classic Nehru jackets for men for pairing with kurta-pyjama sets, Terms of Use and Grievance Redressal Policy.
I don't see dental mentioned in the Employee Information Package. IBM contractor for STG here. Think about the hand that fed and educated you before you open your mouth. For some of you with 25+ years, you should be a part of that plan also, if you took that option when it was offered. Is IBM in violation in this round ?". The cuts also affected employees in Pennsylvania, California, Missouri and New York, where IBM is based, according to people familiar with the matter. My entire team, incl manager, work transferred to India. That will never ever change and is common across large OLDer companies. Offered us contract jobs to do the very same job starting the day after our employment ends. '', Use of this website constitutes acceptance of our.
Employees affected in sales, sales support, project management, business development, offering development, service planning, service delivery support. A huge employer in Research Triangle Park is cutting jobs in North Carolina and around the country. Hope Arvind can bring good change to the good ole company.
IBM Layoffs in Progress (May 2020) IBM Security, received a 1:1 meeting request today from my manager for tomorrow (Thursday). Really looking forward to searching for a job at 62 during a global pandemic. International Business Machines Corp. cut an unspecified number of jobs across the U.S., eliminating employees in at least five states. Darn - sorry to hear that @4sny - what a mess. “IBM’s work in a highly competitive marketplace requires flexibility to constantly add high-value skills to our workforce. On the one hand IBM says in each client presentation that resources and skills are the #1 problem in Security, and on the other hand they lay off Security specialists... Got two months package but I have referred to a labor lawyer. Got whacked. I was affected as well and qualified for IBMs future roadmap. In 2007, we were just at the beginning of the recession and no one was hiring.
Senior care facility aye?
The cuts in TSS (US) appear wide and deep.
Basically IBM will be dramatically reduced and repurposed as the services arm of Red Hat. "Numerous states have WARN laws requiring 60 day layoff notice – California among them. “Recognizing the unique and difficult situation this business decision may create for some of our employees, IBM is offering subsidized medical coverage to all affected U.S. employees through June 2021.”. Yes, I know IBM has no obligation to keep me employed just like I have no obligation to stay. To me, I have only heard of first line managers & below. Overpay 10x annual revenue for Red Hat; then lay off loyal employees ! When they announced that they weren’t doing profit-share, but instead giving out options that vested in 2 years, I knew this was coming!
Another worker who lost his job said the reductions mostly focus on IBM’s North American workforce. Heard another RA is in works due sometime in August? I read in the "paper" that the IBMers RA's were "middle management". the Labor Department's Pension and Welfare Benefits Administration (www.dol.gov/dol/pwba): ''Receiving a lump sum or other distribution from your pension plan may affect your ability to receive unemployment compensation. Probably will be kept on for P10, but who really knows? Before it's here, it's on the Bloomberg Terminal. They will continue to 'lead' IBM right into the grave.
Numerous states have WARN laws requiring 60 day layoff notice – California among them. So many responses by 'old people' on this thread. In NC, they have not hit that trigger that I'm aware of. Being specific on the age because I could have been left on unpaid leave for the four months until I reached 55 and bridged to retirement. I do the work of the last 4 people RA'd from my dept, and I sympathize with whoever gets it from me. They laid of me and my entire department in RTP. I survived what seemed like annual RA's ever since the early 1990's, re-inducing PTSD each time. Knowing IBM they typically do it once a year but who knows these are testing times and IBM would take advantage of it .... IBM Execs do not get credit when an employee retires, but they do get credit when they release someone that could retire but hasn't. Make no mistake, IBM is ruled by Executive greed and Corp Finance. I am in the class of 2007 with 24 years, 10 months at age 54 years 8 months old. Security specialist.... Close to a decade of Security work.
23 years 9 months. Sure they have so brainwashed themselves for the last six years to feel insulated from guilt at night. by Joe Panettieri • May 21, 2020.
I know too much and do too much that took me years to learn. I am not "middle management" & the other people on my team that were RA'ed were not "middle management" either. Half of his 70-person department were cut on Thursday and told their last day with the company will be June 22. Left earlier this year.
Expected it. So can I assume I survived? It's my turn to be RA'd and I'm lucky enough to be ready to retire, marking the end of a long, bumpy ride with IBM. I think the writing's on the wall and IBM is dying: HW is virtually non-existent besides Mainframe, Watson is sh– and has failed, Notes and Collab is gone, nobody buys SW anymore, IBM's Cloud is a niche player at best, Security is too expensive, GTS is bleeding money, etc. No dental going forward like the medical benefit? Although some of the jokes posted here hurt a little, there is some truth to the "out of the box" thinking you possess as a special talent. 37 years with IBM. But it would be foolish for them to cut me and assume someone else can just pick up what I do. Not looking forward to seeing who's been let go.
Great decision. However, I am 55 and highly compensated. It's not a senior care facility and it's not just old employees affected. I finally got a contract with a small IT consulting firm as a 1099 contractor that lasted 3 years. The person asked not to be identified on concern that speaking publicly may impact his severance package. “With the Covid situation, it will be hard to find new opportunities,” one wrote. They were avoiding paying out, knowing that the pending layoffs would basically nullify certain option grants!
It’s unclear how many of IBM’s cuts are caused by the pandemic. Get on with the program Boomers.
Here's the bad news and the good news.
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. RTP location. Use it to make a difference and create your new future. Can't retire. Sad that employees being the most important asset became lip service. If you received your walking papers and are in California, will you please share at the link below whether you received 30/90 or 60/90 (days of notice/severance) ? 9-Year-Old Coders Show How India Is Pioneering Online Educat... Thousands of IBM workers in North America likely affected, Newly unemployed staff fear finding another job in a recession, More Than 2 Million Americans Filed for Unemployment Last Week. For those millennials that talk about those “geysers” that have been at IBM for 25 years and say we should be able to Retire by now or running the company if we are any good- WE have been supporting you and paying for your educations ! RAed as well. I could find a new role in 30 days but as I’m waiting for my work permit to be extended (and upcoming maternity leave), the transfer to a new role couldn’t happen. Another step toward being an IPP sweat shop... IBM now stands for India Business Machines.
The next 3 years I got by doing little odd jobs here and there and again no interviews, despite applying for hundreds of jobs.
Since the recent overpriced Red Hat acquisition, they have been cash starving the rest of IBM to try and make up for it. IBM has been sued for age discrimination once already and it's about to happen again. The good news.
For those who are over 45, you are going to have a hard time finding a new position that even comes close to your current salary, especially during the pandemic. In addition, IBM offers outsourcing, infrastructure, hosting and … IBM corp management only cares about stockholder and top management payout. I am soon to retire and I am positively sure no one can fill my place. Bankruptcies, Apple Developing Smaller AirPods Pro, Revamped Entry-Level Model, Adelson’s Las Vegas Sands Exploring $6 Billion Sale of Vegas Casinos.
... Shilpa Phadnis & Avik Das / TNN / Updated: May 23, 2020, 10:47 IST. Most WARN laws have a preset clip level that IBM is extremely aware of and skilled at preserving. Bye Bye Big Blue! In an earnings call in January, IBM discussed reducing costs through “aggressive structural actions” to improve the competitiveness of its Global Technology Services consulting unit, which represents about a third of revenue. While we always consider the current environment, IBM’s workforce decisions are in the interest of the long-term health of our business,” company spokesman Ed Barbini said Thursday in a statement. What thinking person would want to move to Missouri, no matter what the salary? May 22, 2020 at 12:41PM International Business Machines ( NYSE:IBM ) is gearing up to lay off workers amid the COVID-19 pandemic, the first such action by … Yes, it can.