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IBM Employees Fear Company Will Begin Up To 13,000 Layoffs Tomorrow
Business Insider ^ | 02/25/2014 | Julie Bort

Posted on 02/25/2014 8:58:24 AM PST by SeekAndFind

IBM’s next round of layoffs are expected to begin on Wednesday, Feb. 26, according to a union for IBM employees.

The internal code name for this round of cuts is “Project Apollo,” sources told the union, Alliance@IBM on an online forum where those who work for IBM can post comments about what’s going on inside the company.

No one knows exactly how many people IBM will cut as part of its 2014 “workforce rebalancing.” IBM won’t comment on the number of employees affected but CFO Martin Schroeter did say that IBM plans to spend $US1 billion on 2014′s cuts, “plus or minus $US100 million,” (the same as it spent in 2013) and that the layoff would occur in the first quarter.

Wall Street analyst Toni Sacconaghi, from Bernstein Research, said in a note to investors that he estimates IBM will cut “at least 13,000 heads” worldwide, as reported by Barron’s Tiernan Ray. Sacconaghi figures it costs IBM about $US70,000 to let an employee go, reports The Poughkeepsie Journal’s Dan D’Ambrosio.

Earlier this month, IBM reportedly let over 1,200 workers go in Europe And India. Alliance@IBM, which keeps an informal tally of U.S. employee headcounts, believes that IBM reduced its U.S. workforce by over 2,800 workers in 2013.

(Excerpt) Read more at businessinsider.com.au ...


TOPICS: Business/Economy; Computers/Internet; Society
KEYWORDS: ibm; layoffs

1 posted on 02/25/2014 8:58:24 AM PST by SeekAndFind
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To: SeekAndFind
so much for the 0'ButtCrack's RECOVERY

2 posted on 02/25/2014 9:00:34 AM PST by skinkinthegrass (The end move in politics is always to pick up a gun..0'Caligula / 0'Reid / 0'Pelosi)
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To: skinkinthegrass

hopeychangey from buttcrack odumbo


3 posted on 02/25/2014 9:03:40 AM PST by max americana (fired liberals in our company last election, and I laughed while they cried (true story))
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To: SeekAndFind

A lot of people are being freed from “job lock”. I wonder if they feel lucky?


4 posted on 02/25/2014 9:03:53 AM PST by ClearCase_guy
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To: SeekAndFind

Bammy’s fault.


5 posted on 02/25/2014 9:04:43 AM PST by Paladin2
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To: SeekAndFind

Cut your international staff and run your business from the country that made you.


6 posted on 02/25/2014 9:05:30 AM PST by Resolute Conservative
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To: Paladin2

RE: Bammy’s fault.

Bammy actually considers this a GOOD thing. They can now enroll in Obamacare and are free of “job Lock”... free to pursue their passions like paint, make music or write poetry.


7 posted on 02/25/2014 9:08:15 AM PST by SeekAndFind
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To: Resolute Conservative

RE: Cut your international staff and run your business from the country that made you.

The problem is the country that made you is not the country that made it easy to start and do business anymore.


8 posted on 02/25/2014 9:09:15 AM PST by SeekAndFind
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To: max americana
what Is it now..
Summer of recovery for what? ...4 years

9 posted on 02/25/2014 9:12:05 AM PST by skinkinthegrass (The end move in politics is always to pick up a gun..0'Caligula / 0'Reid / 0'Pelosi)
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To: SeekAndFind
according to a union for IBM employees

I didn't know there was a Union at IBM.

10 posted on 02/25/2014 9:14:54 AM PST by sr4402
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To: SeekAndFind

Salient point, but never the less, American companies need to come home.


11 posted on 02/25/2014 9:18:00 AM PST by Resolute Conservative
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To: SeekAndFind

And so another great company heads for the dustbin. Who’s next?


12 posted on 02/25/2014 9:22:26 AM PST by I want the USA back (Media: completely irresponsible traitors. Complicit in the destruction of our country.)
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To: Resolute Conservative

We have to understand this — companies do business FOR PROFIT. Patriotism isn’t the prime motive.

What is the point of doing business in one’s home country when one can’t make a profit at all? Might as well close shop.

Hence, IBM just recently SOLD its Low end Server Business to China’s Lenovo. Why? It’s not profitable for them.


13 posted on 02/25/2014 9:22:43 AM PST by SeekAndFind
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To: Resolute Conservative

I think theres no incentive for that.


14 posted on 02/25/2014 9:23:50 AM PST by 556x45
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To: FReepers

Click The Pic To Donate

Support FR, Donate Monthly If You Can

15 posted on 02/25/2014 9:26:43 AM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: SeekAndFind

Like we really need more hip-hoppers and gangstahs.


16 posted on 02/25/2014 9:26:51 AM PST by Paladin2
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To: SeekAndFind

Yes I understand that but globalism is the undoing of our country. Other than Clinton it is how they steal our technology.


17 posted on 02/25/2014 9:27:46 AM PST by Resolute Conservative
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To: DJ MacWoW

That looks like an old picture. The national debt is now approaching $18 Trillion, and there are now over 90 Million out of the labor force.


18 posted on 02/25/2014 9:28:13 AM PST by SeekAndFind
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To: I want the USA back

Somehow lotus notes will still survive. I would love to see that software die.


19 posted on 02/25/2014 9:28:28 AM PST by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.)
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To: SeekAndFind

Microsoft will be next.


20 posted on 02/25/2014 9:31:24 AM PST by Zathras
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To: sr4402

“I didn’t know there was a Union at IBM”

Ditto, as a retired IBM’er unions were never part of any discussion during my IBM career.


21 posted on 02/25/2014 9:31:26 AM PST by duckman (I'm part of the group pulling the wagon!)
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To: Resolute Conservative

RE: Yes I understand that but globalism is the undoing of our country.

I think it’s not so much globalism as THE INCREASING BURDEN OF DOING BUSINESS in America that’s killing us.

Regulations, taxes, healthcare, all federal and local requirements one has to meet.

Obamacare just added a 2.3% tax on Medical Device Manufacturers to fund Obamacare. The result is over 33,000 jobs lost or not created.

Now, small businesses face the added burden of having to pay
$10.10/hr for entry level jobs and are being forced to pay for INCREASED HEALTHCARE COST under the Obamacare mandate ( which Obama postponed, but it’s still like a sword of Damocles hanging over their heads ).

Where’s the incentive to do business here?


22 posted on 02/25/2014 9:33:21 AM PST by SeekAndFind
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To: I want the USA back

IBM has over 400,000 employees, so laying off 13,000 is not really a significant number.


23 posted on 02/25/2014 9:34:05 AM PST by CharlesWayneCT
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To: wally_bert

I detest Lotus Notes


24 posted on 02/25/2014 9:37:24 AM PST by caver (Obama: Home of the Whopper)
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To: SeekAndFind

It probably is old. Who can keep up with the destruction?


25 posted on 02/25/2014 9:39:56 AM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: SeekAndFind

My company’s dropping another 600 jobs here in tiny Konnecticut this week - mmmm, some recovery.


26 posted on 02/25/2014 9:41:34 AM PST by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: SeekAndFind

Rumor has it that this time it is so bad, they are going to be laying off some of their Indian employees.


27 posted on 02/25/2014 9:45:37 AM PST by ClayinVA ("Those who don't remember history are doomed to repeat it")
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To: Psalm 73

RE: My company’s dropping another 600 jobs here in tiny Konnecticut this week - mmmm, some recovery.

Let me guess... it’s a defense related company? Sikorsky
perhaps?

If so, you can thank Chuck hagel. He’s downsizing our military.


28 posted on 02/25/2014 9:50:34 AM PST by SeekAndFind
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To: SeekAndFind

Ridding themselves of ‘deadbeats’ and dead wood its about time. Sadly I need to add sarc/ tag


29 posted on 02/25/2014 9:51:20 AM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: SeekAndFind
Not a big Hagel fan - but I suppose Zero told him a dollar figure and he's just steppin' and fetchin' for him.
I think maybe he chose to keep cutting-edge technology funded and figures he can always "hire" more Army personnel if needed.
I know reality doesn't work like that, but that's how bean-counters think.
30 posted on 02/25/2014 9:59:42 AM PST by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: SeekAndFind
IBM will cut “at least 13,000 heads”

Huh. Never knew IBM stood for "International Brotherhood of Muslims".


31 posted on 02/25/2014 10:16:45 AM PST by Buckeye McFrog
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To: SeekAndFind; All
Top 10 Reasons Why Ginni Rometty Will Fail as IBM’s New CEO

IBM CEO Ginni Rometty: Failing Fast


32 posted on 02/25/2014 11:34:29 AM PST by Uri’el-2012 (Psalm 119:174 I long for Your salvation, YHvH, Your teaching is my delight.)
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To: ClearCase_guy

I just can’t wait for the new poetry, zither music and novels those freed from “job lock” will now have freedom to produce. Aren’t we all sooooooo lucky?


33 posted on 02/25/2014 11:47:07 AM PST by hal ogen (First Amendment or Reeducation Camp?)
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To: ClearCase_guy
I wonder how many of them voted for Obama? Could this be an example of “Goes around, Comes around”?
34 posted on 02/25/2014 12:33:33 PM PST by ANGGAPO (Layte Gulf Beach Club)
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To: Psalm 73
Isn't this what the Romans tried to do?
35 posted on 02/25/2014 12:39:53 PM PST by ANGGAPO (Layte Gulf Beach Club)
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To: ANGGAPO
Yup - and they are no more.

Besides, you can't just hire seasoned NCOs off the street.....

36 posted on 02/25/2014 12:52:44 PM PST by Psalm 73 ("Gentlemen, you can't fight in here - this is the War Room".)
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To: CharlesWayneCT

I bet it is significant to everyone that loses their job.


37 posted on 02/25/2014 12:58:51 PM PST by Tammy8
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To: Tammy8

Sure it is; my comment was in response to the suggestion that this was the end of IBM as a company.


38 posted on 02/25/2014 4:06:03 PM PST by CharlesWayneCT
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To: caver

Notes is the one software installation that I will not guarantee.


39 posted on 02/25/2014 5:55:13 PM PST by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.)
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To: Resolute Conservative
Salient point, but never the less, American companies need to come home.

Companies need to do what makes sense for their shareholders. "Home" needs to make itself attractive for companies to operate in.

40 posted on 02/25/2014 6:06:27 PM PST by Cementjungle
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To: wally_bert

I’ve used it for years but hear that we will be going to Outlook later this year.


41 posted on 02/26/2014 2:51:47 AM PST by caver (Obama: Home of the Whopper)
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To: SeekAndFind

My wife just got the news, She’s just shy of 29 years with IBM and is part of the Layoffs. Her Dept. manager called to tell her the news. When asked how bad it was all he would say, it’s bad... real bad. Lots of key employees being let go and they are trying to get India to fill the job positions.

The question of course is why? No one really knows other than IBM is trying to become Leaner and Meaner. My guess is Obamacare and releasing the older employees so as to avoid retirement costs into the future.


42 posted on 02/27/2014 9:26:37 AM PST by The Working Man
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