Manager was telling team no travel moving forward and to cancel upcoming trips. Anyone else been told this?
10 replies (most recent on top)
Having $70B of your market value in one day is pretty much an indicator that the company is in serious trouble regardless of how much they try to explain it away. Surprises me that so many people at IBM are in a bubble and think they are working at a growing and thriving company.
@eg They should just shut down that money pit in Albany already.
Some technical parts of the company have had travel bans 3 or 4 quarters a year since late 1997 with the exception of two years. Travel had opened up widely in late 95 after the Cookie Monster stabilized things, but in late Q3 of 97 the door slammed shut due to balance sheet surprises. That was supposedly a one time special case. The wording and justification worked so well they’ve never stopped repeating the excuse.
I am also hearing that IBM is planning to close more offices in US... Don't know which one though, so it will be a guessing game.
Some area have had these travel restrictions since early Q2
This is typically expense control because customer travel is charged against cost of sales while non customer travel is charged as a regular operating expense. It is a symptom of financial pressures due to sales numbers not as great as hoped
Is this because of the layoffs?
Told no travel for education but customer travel not cut as of today
So that must mean that they'll be cancelling any and all flights on the IBM private jets, right?
https://www.celebplanes.com/celebrity/ibm
But how come?