Kyndryl
Coverage of Kyndryl in the Nexus archive.
- Kyndryl showers execs with shares while staff ponder redundancy packages
Kyndryl awarded executives with shares worth hundreds of thousands of dollars during a redundancy program, sparking staff discontent. SEC filings revealed stock grants to CEO Martin Schroeter and others, while the company seeks volunteers for job cuts amid financial struggles linked to cloud computing trends.
- Kyndryl takes employees' pulse while cutting off circulation for some
Kyndryl, an infrastructure tech services company spun off from IBM, sent a pulse survey to employees on the same day it announced potential job cuts, sparking backlash. The company cited efforts to address labor costs amid declining profits, with severance charges projected at $200 million. A brief town hall meeting provided minimal details, further fueling employee dissatisfaction.
- US ‘disappointed’ after Netherlands blocks takeover of online ID platform
The U.S. expressed disappointment after the Dutch government blocked Kyndryl's acquisition of Solvinity, a cloud-services provider, citing national security concerns. The U.S. Embassy in The Hague issued a statement regarding the decision.
- 'Workforce rebalancing' comes for Kyndryl, and delivery teams are in the firing line
Kyndryl, a global technology services division, is cutting jobs to reduce overheads and streamline operations, affecting delivery teams in several countries, including the UK. The company is entering a 45-day consultation with employees, with hundreds of people likely to be placed at risk of redundancy. Kyndryl expects to yield annualized savings of $400 million to $500 million in fiscal 2028.