Red Hat cutting hundreds of jobs, CEO says in letter to employees
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Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#2Really hope this doesn't affect their development of VirtIO drivers and related virtualization technology. Although being realistic, it probably will.
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#3I'm sure this is mostly due to the economy but I would be interested to find out how much of this is due to lack of funding after the CentOS Stream thing.
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#4Really hope this doesn't affect their development of VirtIO drivers and related virtualization technology. Although being realistic, it probably will.
“However, layoffs are off limits in some areas.
“We will not reduce roles directly selling to customers or building our products,” Hicks wrote.”
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#5> The layoffs come after IBM reported last week that Red Hat quarterly revenues had increased 8%. However, that was far below recent performances. “Red Hat had been averaging at least a 15% revenue growth, every quarter since IBM purchased it in 2019,”
Looks like the enshittification of Red Hat is hitting its stride.
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#6Welcome to life under IBM. They’re in the business of a financially engineered shrinkage. This is what happens when innovation and growth stops.
What you see from IBM:
- Cut expensive (old) employees.
- Market everything as the New thing. (Watson)
- Audit your customers. Settle by forcing them to buy the New thing even if they don’t need it.
- Current and former execs go on book tours.
- Buy back shares.
This is all rational when you can’t put capital to good use anymore. It just sucks to be a customer or employee of them.
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#7Welcome to life under IBM. They’re in the business of a financially engineered shrinkage. This is what happens when innovation and growth stops. What you see from IBM: - Cut expensive (old) employees. - Market everything as the New thing. (Watson) - Audit your customers. Settle by forcing them to buy the New thing even if they don’t need it. - Current and former execs go on book tours. - Buy back shares. This is all…
> - Cut expensive (old) employees.
Anyone have tips to avoid this? I keep getting promotions and raises and it's all very nice but makes me worried about being closer to the top of the list when the next round of cuts needs to happen... Just this year I got an unsolicited bump because I was "below market avg TCO." You can't just say "no thanks" to that.
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#8Welcome to life under IBM. They’re in the business of a financially engineered shrinkage. This is what happens when innovation and growth stops. What you see from IBM: - Cut expensive (old) employees. - Market everything as the New thing. (Watson) - Audit your customers. Settle by forcing them to buy the New thing even if they don’t need it. - Current and former execs go on book tours. - Buy back shares. This is all…
> - Cut expensive (old) employees. Anyone have tips to avoid this? I keep getting promotions and raises and it's all very nice but makes me worried about being closer to the top of the list when the next round of cuts needs to happen... Just this year I got an unsolicited bump because I was "below market avg TCO." You can't just say "no thanks" to that.
Live frugally and fully fund your 401k.
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#9Hope it doesn't hurt the GNOME project. The IBM-Redhat buyout should have been something similar to Apple-NeXT.
Re: Red Hat cutting hundreds of jobs, CEO says in letter to employees
#10Welcome to life under IBM. They’re in the business of a financially engineered shrinkage. This is what happens when innovation and growth stops. What you see from IBM: - Cut expensive (old) employees. - Market everything as the New thing. (Watson) - Audit your customers. Settle by forcing them to buy the New thing even if they don’t need it. - Current and former execs go on book tours. - Buy back shares. This is all…
> - Cut expensive (old) employees. Anyone have tips to avoid this? I keep getting promotions and raises and it's all very nice but makes me worried about being closer to the top of the list when the next round of cuts needs to happen... Just this year I got an unsolicited bump because I was "below market avg TCO." You can't just say "no thanks" to that.
jump ship