Gerstner tries to stem flight of top talent as he seeks to achieve an IBM turnaround
Article Abstract:
IBM, under the direction of Louis V. Gerstner, is working hard to keep its best employees from leaving the company. While employees' departures from the company are not new, recently a number of very talented managers and engineers have left the company. Efforts to retain talented employees who want to leave have by and large failed because the company has been slow in turning around its finances and changing its culture. Gerstner, supposedly, has taken a personal interest in retaining valuable employees; in one instance, Gerstner himself intervened to persuade an employee six levels below him to stay with IBM. A broader step that IBM is taking is to offer more performance bonuses and encourage managers to maintain closer contacts with employees in order to boost morale.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1993
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IBM promotes five executives, sparking talk
Article Abstract:
IBM names five new senior vice presidents, all of whom are seen as possible candidates to succeed Chairman John Akers. The five are networks chief Ellen Hancock, Asian marketing chief Ned Lautenbach, US marketing chief Robert LaBant, personal computers chief James Cannavino and Bernard Puckett, an executive for software and services. Earlier in 1992, the top top candidates to succeed Akers, George Conrades and Michael Armstrong, abruptly quit IBM. Despite the appointments, many other succession scenarios are possible for IBM, currently embroiled in the worst crisis in its history. There is speculation that the company board may replace Akers, who is scheduled to resign at the end of 1994, with an outsider.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1992
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IBM expects to cut work force in Europe further during 1991
Article Abstract:
IBM plans to decrease the number of employees it has in Europe during 1991. The announcement by the number one US computer company is made in the context of a contracting European computer market. Industry observers believe IBM will reduce its European workforce by 3,000 employees, but the company refuses to comment. IBM began its global cost-reduction plans in 1986 through a series of early retirement plans tailored to each country. Industry growth in Europe is expected to drop below a double digit rate, which was experienced in the 1980s, because of sluggish demand and extensive discounting by manufacturers.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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