This is the best summary I could come up with:
The Resource Action, as Big Blue likes to euphemistically refer to layoffs, shouldn't be a massive surprise to anyone with more than a passing interest in IBM as it was signaled last month in a Q4 earnings call.
Insiders told us this latest process is not considered to be financial but “transformative,” although IBM was quite clear in January when CFO James Kavanaugh discussed achieving “$3 billion annual run rate in savings by the end of 2024.” This is a third bigger than the initial ambition.
As if often the preferred route, IBM is seeking employees that are happy to take voluntary redundancy, rather than ditching someone that doesn’t want to leave.
Slovakia, we're told, is to feel the tightest squeeze with around a third of IBM’s cuts in Europe landing on its International (shared services) Center in Bratislava; the Center in Hungary that supports EO&S/ Q2C, as well as the Finance function in Bulgaria are also going to absorb what our sources described as the most dramatic staff reductions.
We asked IBM to comment on the points raised above, and a spokesperson sent us a statement, insisting this is not a cost saving initiative.
This rebalancing is driven by increases in productivity and our continued push to align our workforce with the skills most in demand among our clients, especially areas such as AI and hybrid cloud."
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