Company: IBM
Date: 2010-06-19
Overall rating: 2/5
Employment status: current

The "IBM" of yesterday is gone
Pros: It's a good place to work for a few years. You'll meet some great people (not the managers). The benefits, although each year there are fewer and fewer, are still pretty competitive. You can work from home (just know it will be 24x7 including holidays, weekends and vacations).
Cons: -Don't expect long-term employment, especially once you reach 50 (your days are limited once you hit that birthday).
- Morale is very low due to the constant lay-offs, most people are scared for their job and I think that once the economy turns around, more people will voluntary move to a more secure company.
- IBM doesn't really innovate anymore, they just buy more companies. 
That yearly patent count contains some pretty ridiculous patents!
-The matrixed organization brings a lot of frustration and confusion as managers fight for budgets and/or control of a project. 
-Yearly reviews aren't always fair since a manager has to give a proportionate share of bad and good reviews --even if everyone on the team did a fantastic job. The dollar amount for raises and bonuses are purely up to the manager, it's not tied to performance (it's supposed to be, but that stopped a few years ago). 
-Each year, you'll lose a little bit more of your benefits, especially retirement benefits (which only a few get now anyways). The company is making record profits, but you wouldn't know that because they don't seem to "have the money" for raises and bonuses. 
- And as for "spirit," it's like's morale, it's low. You don't even get a christmas card, christmas bonus or cheap holiday party anymore. 
- Long hours, there are no 40 or even 50 hour work weeks (that work/life balance is just a marketing ploy) anymore, it's more  60+. This is because too many people were laid off.
So, like I said, it's good place to plan to work for a few years, new college students love it, but then get out -- take your experience to a place that actually will reward (financially and emotionally) you for it.