Company: IBM
Date: 2015-01-24
Overall rating: 1/5
Employment status: current
Experience level: Senior

Lack of leadership from CEO and Senior Executives
Pros: For me, the best part about working for IBM are the people on my team. We work well together and I have to say, the majority of the people I have to work with are top notch and good people. Unfortunately, there are not too many other "pros" i can come up with.
Cons: Our CEO and senior executives have a total lack of leadership. In the past few years the company has used much of it's profit to simply buy back stock to prop up the EPS.  Revenues have been declining and instead of investing more in the company (and some to their employees), they consistently buy back stock.  With their stock grants, they have all made tens of millions of dollars.  Revenues are declining quarterly, yet they still get the big bucks. The employees typically work quite a bit of OT and over the last few years there have been minimal to no raises, the cashed out pension is stuck making T-Bill +1% with no opportunity to select where to invest it and it's value is way below the target value that was given to me years ago when I was cashed out. IBM puts some dollars into a medical account which is supposed to help purchase medical insurance through the IBM plan after you retire.  Unfortunately you don't get the money unless you are 55 and at least 15 years of service.  There are many of us with over 30 years of service but are not yet 55 and we wouldn't get a dime for healthcare.  These are just some examples of how the company tries to take every penny away from the employee while the top few reap the rewards.  

Every year the company also has "Resource Actions" which are run under the guise that people with poor skills are being let go so they can hire those with the necessary skills.  It is a lie and only done to hire cheaper labor.  There are MANY people they have fired and then hired back as contractors because they needed them.  If their skills were so bad, why did they take them back?  

I would not recommend this company to anyone.  If you are young and can't find another job, then by all means work there, get some experience and get out as soon as possible.  The company talks about growing talent and continually improving skills but they don't follow through, there hasn't been any budget for education is the last 10 - 15 years.