Kyndryl spins out of IBM, stock starts trading on NYSE – and shares tumble

IBM has finally cut loose its multi-billion-dollar managed infrastructure business, renamed to Kyndryl, sending 90,000 staffers into a life that is less big and less blue. The spin off, announced in October 2020, was completed today, meaning Kyndryl is now being traded as a separate entity on the New York Stock Exchange. …

[Doctor Syntax]

"Just as happened with HPE Enterprise Services, it is hoped that Kyndryl flying the IBM nest will indicate to customers they don’t need to buy only IBM stuff from Kyndryl."

Does this help IBM? Did it help HP?

[Anonymous Coward]

Headcount Reductions

Anyone like to bet when the first of many rounds of job losses will be announced. My money is on January 2022

[a_yank_lurker]

Re: Headcount Reductions

You are an optimist.

[Rick Sanchez]

Re: Headcount Reductions

i reckon that might not send a good message that early, but would't surprise me if its down the line

[eldakka]

Kyndryl.

They are doing so badly they couldn't afford to buy a vowel.

[Warm Braw]

Once they've had to sell off a few consonants they'll soon be down to Kyn L

[The Unexpected Bill]

Why the Y?

I apologize in advance for doing this, but Y is at least sometimes considered a vowel.

I'm not fond of the way they spelled it either.

[AMBxx]

Re: Why the Y?

It's a vowel in Welsh. Sadly, no X or Z, so hopeless for technology names,

[Pascal Monett]

A tendril ?

Jellyfish have tendrils. Some species are poisonous, all are painful.

Vines use tendrils to latch on to another plant and climb toward the Sun, sometimes choking the supporting plant in the process.

Tendril is also used to describe the increase of the nefarious influence of crime organizations or evil intelligence agencies in litterature (and news, sometimes).

I'm trying, but I can't think of a positive use for the word. I wonder how the marketing team justified that reference.

[Anonymous Coward]

Re: A tendril ?

A cynic might suggest too much white powder at the agency's creative brainstorming session.

But, well, they're your own kyn's tendrils see? So if it's in the family that's all OK then.

[EricB123]

Re: A tendril ?

"I wonder how the marketing team justified that reference."

An illicit substance could factor into this somehow.

[trevorde]

Revenue growth

"They expect revenue to start growing again in 2025."

I interpret that to mean they'll have hit rock bottom by 2025

[richdin]

Who chose the name?

A Lynyrd Skynyrd fan? Corporate anthem is Freebird?

[Anonymous Coward]

"If they can pull off a miraculous transformation..."

Well, the market is voting as to what they think the chances of that are. See tanking stock prices...

[Uncle Ron]

No Guts, No Glory

Whatever is left of the IBM psyche* of the last 20-30 years at both companies will have to die off before either company will be interesting/relevant again.

*Risk averseness, no guts, ignore the engineers/Fellows/technologists, cleave to the stock market, pay yourself first, greed, no vision, no vision.

[julian.smith]

Off to a good start

GTS had made a pre-tax adjusted profit of $67m last year but reported a net loss of $2.011bn after audit, advisory, legal, and restructuring charges were accounted for, according to an SEC filing in September.

Nothing like starting life with a $2bn loss ... good luck, you'll need it