Kyndryl showers execs with shares while staff ponder redundancy packages
IBM spin-off's top brass bag six-figure stock awards
Timing, as we noted previously, 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 19,406 units of common stock, valued at $12.25 per share. On the same day, Kyndryl confirmed Group President Elly Keinan and interim CFO Harsh Chugh were given 133,894 shares and 651 shares respectively.
The transaction date for all three was listed as March 6, 2026, so even though these agreements were approved before the current job cuts, the fact they landed while Kyndryl is seeking volunteers to take redundancy terms has annoyed some staff who are fearful for their future.
One insider noted Kyndryl's executive generosity was...
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