Do people know if IBM Quantum is one of those `higher growth` areas? Asking for a friend who is worried about getting laid off from the Microsoft Azure Quantum team.
IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
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Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#42Earlier quoted context omitted.
IBM has been a dead company since about late 80's/early 90's.
In terms of developer credibility with the entrepreneurial community? Sure. In terms of being a going concern for large customers and investors? The make billions of dollars of profit per year, have a P/E valuation better than Apple's, and pay out 4-5% dividends annually. I'm not sure what it really means to "be dead" for 40 years. In a sense, the average human is "dead" for 70-something years. But periods of time at…
Their net income has declined precipitously from $15B per year to $5B per year, and profit margins from 15% to below 10%, in a timeframe when its (former) competitors grew by leaps and bounds.
https://www.macrotrends.net/stocks/charts/IBM/ibm/net-income
>The make billions of dollars of profit per year, have a P/E valuation better than Apple's, and pay out 4-5% dividends annually.
For a shareholder, this is little solace when their return compared to the market (a basically risk free rate of return) is negative. 0.64% for the last 10 years, 5.93% for the last 20. SP500 is at 12.4% and 9.8% for the same timeframe, per dqdyj.com total return calculator.
Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#43Earlier quoted context omitted.
For Oct-Dec 2022 (according to https://www.ibm.com/investor/att/pdf/IBM-4Q22-Earnings-Chart... ) Mainframes: $4.5 billion Consulting: $4.8 billion (even after selling off Kyndral) Software: $7.3 billion Software includes all of Red Hat, a pretty big security business, and "transaction processing" which isn't explained but I guess is running payroll and the like for other companies. So lots of un-sexy stuff that never…
pretty much anything you purchase at a store goes through ibm
Banks love IBM mainframes/midranges. They might not be blistering fast, but they're a joy to work with if you have the budget.
Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#44Earlier quoted context omitted.
Given their existing relationships they can leverage and the romanticism finally bleeding out of FAANG's reputations, if they can put together a stable, fundamentally capable platform they could definitely grab a chunk. Toyota has made a multi-decade business model around "skating to where the puck has been". Why can't IBM?
> Given their existing relationships they can leverage and the romanticism finally bleeding out of FAANG's reputations, if they can put together a stable, fundamentally capable platform they could definitely grab a chunk. IBM has failed to build a reasonable cloud platform, and not for lack of trying -- for over a decade at this point -- through both internal work and acquisition. Create a cloud.ibm.com account and p…
Having never used IBM cloud I have no idea. Just saying it's a possibility. Also just because it sucks doesn't mean businesses won't buy it and force their developers to use it, sadly.
As for Toyota, hybrids were basically their last big innovation. And their plug-in hybrids are iterations on their regular hybrids, not new ground-up designs. Since the late 90s they've been continually behind the curve by intent. Their engines/transmissions/infotainment/interior design is all at least 5 years behind the competition, as are their EVs. They've taken a stance that refinement is more important than bleeding edge innovation, and a good chunk of the market seems to agree (my family included, we drive two Toyotas). The hydrogen stuff is just noise.
Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#45Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#46I thought companies cut jobs, not people.
Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#47> (IBM) delivered an upbeat annual sales forecast while announcing it would eliminate about 1.5% of its global workforce
> The cuts will focus on workers remaining after spinoffs of the Kyndryl and Watson Health units and will cost the company about $300 million, he said. IBM still expects to hire in the “higher-growth areas,” Kavanaugh said.
> Chief Executive Arvind Krishna has been trying to pivot Big Blue from its traditional business of infrastructure and information technology services to the fast-growing cloud-computing market.
Can't help but see all the layoffs as part of a "great refocusing", even with positive news for the company, you can use the fact that everyone is doing layoffs to reorient things. If everyone wasn't doing layoffs, people would worry about the company, and the news wouldn't be buried. Layoffs are just the tool companies suddenly have available to do this with (seemingly) no consequences to them
Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#48Not to be snarky or anything, but a legitimate question: what does IBM actually do? I used to work for a partnering engineering team at and met with dozens of enterprise clients (think Fortune 100) and I never heard anybody ever mention any IBM products. I am really intrigued to understand what keeps this company afloat. My main hypothesis is selling to government and acting more as a holding of acquired companies th…
They have 260k employees, for what?
Your answer is here: https://www.ibm.com/
Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#49Earlier quoted context omitted.
For Oct-Dec 2022 (according to https://www.ibm.com/investor/att/pdf/IBM-4Q22-Earnings-Chart... ) Mainframes: $4.5 billion Consulting: $4.8 billion (even after selling off Kyndral) Software: $7.3 billion Software includes all of Red Hat, a pretty big security business, and "transaction processing" which isn't explained but I guess is running payroll and the like for other companies. So lots of un-sexy stuff that never…
A piece of my soul died just trying to imagine the depths of boredom this would take you.
A piece of my soul died just trying to imagine the depths of boredom this would take you.
IBM is a leader in quantum computing. If you find that boring, that's on you.
Re: IBM to cut about 3,900 workers while still hiring in ‘higher growth’ areas
#50Earlier quoted context omitted.
For Oct-Dec 2022 (according to https://www.ibm.com/investor/att/pdf/IBM-4Q22-Earnings-Chart... ) Mainframes: $4.5 billion Consulting: $4.8 billion (even after selling off Kyndral) Software: $7.3 billion Software includes all of Red Hat, a pretty big security business, and "transaction processing" which isn't explained but I guess is running payroll and the like for other companies. So lots of un-sexy stuff that never…
A piece of my soul died just trying to imagine the depths of boredom this would take you.
Poor people, must be soul crushing to have a well-paid, 9-5 job with technologies that don't have an eternal carrot on a stick that prevents them from achieving mastery at their trade.
Where is the excitement of working during the weekend to make sure the dozens of random libraries npm downloaded as dependencies of the one you need to display a neon outline in the list of products are compliant?