What does IBM GTS stand for?
IBM Global Technology Services
Is IBM going to sell GTS?
On October 8, 2020, IBM IBM -1.1% (NYSE: IBM, $117.37, Market Capitalization: $104.5 billion) announced its plan to spin-off its Managed Infrastructure Services (MIS) business which is part of Global Technology Services (GTS) division into a new publicly traded company (“NewCo”).
What part of IBM is being spun off?
IBM has revealed that Kyndryl will be the name of its new infrastructure company spin out.
What will happen to IBM GTS?
The Global Technology Services (GTS) division, minus a few elements, will be carved out into a separate public company. For now it’s called NewCo, though IBM CEO Arvind Krishna said in a conference call with stock-market analysts last week, when the deal was announced, that a new name will be sought.
Can I join IBM again?
Yes. IBM does rehire employees if you suit the position. It also depends on the reason for leaving the job with IBM. Case 1: if you would like to join back in the same position – you will most probably end up rehired for the same salary.
Why is IBM NewCo?
NewCo will be a leading technology services provider, with twice the scale of its nearest competitor in managed infrastructure services. It has relationships with more than 4,600 technology-intensive, highly regulated customers and a backlog of more than $60 billion.
Who will run IBM NewCo?
IBM picked Elly Keinan (pictured above) as group president of NewCo., which is expected to be named later. Keinan has previously worked as general manager of IBM North America, general manager of IBM Latin America, and chairman of IBM Japan, during his 30 year tech career.
Is IBM doing well?
In 2020, IBM’s overall revenue fell by 5% from year-ago levels, leading to a 41% decline in net income. Nonetheless, IBM pays investors well to wait. Its annual payout of $6.52 per share yields a 5.4% cash return at current prices, more than triple the 1.5% yield of the average S&P 500 stock.
Is Kyndryl owned by IBM?
IBM on Thursday announced the operating model for its forthcoming Kyndryl managed infrastructure business spin-off, detailing six global managed services practices and naming the senior leadership team.