Kyndryl awards executives stock shares worth hundreds of thousands amid staff redundancy program
By
Paul Kunert
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
Kyndryl, the IT services company spun off from IBM, is facing employee backlash after awarding its top executives hundreds of thousands of dollars in stock shares while simultaneously conducting a redundancy program. SEC filings show CEO Martin Schroeter received 19,407 stock units, with other executives also receiving significant awards, as staff consider severance packages.
Key quotes
· 3 pulledTiming, as we previously noted, is everything.
Now hard-pressed tech services biz Kyndryl is dishing out shares worth hundreds of thousands of dollars to execs in the middle of a redundancy program – and some staff are not amused.
According to SEC filings made on June 5, chairman and CEO Martin Schroeter was awarded 19,407 units of common stock, valued at $12.25 per share.
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