March 18, 2012, 7:16 AM —
David Brown is worried. As managing director of the IT transformation group at Bank of New York Mellon, he is responsible for the health and welfare of 112,500 Cobol programs -- 343 million lines of code -- that run core banking and other operations. But many of the people who built that code base, some of which goes back to the early days of Cobol in the 1960s, will be retiring over the next several years.
"We have people we will be losing who have a lot of business knowledge. That scares me," Brown says. He's concerned about finding new Cobol programmers, who are expected to be in short supply in the next five to ten years. But what really keeps him up at night is the thought that he may not be able to transfer the deep understanding of the business logic embedded within the bank's programs before it walks out the door with the employees who are retiring.
More than 50 years after Cobol came on the scene, the language is alive and well in the world's largest corporations, where it excels at executing large-scale batch and transaction processing operations on mainframes. The language is known for its scalability, performance and mathematical accuracy. But as the Boomer generation prepares to check out of the workforce, IT executives are taking a fresh look at their options.
Is Cobol being used in your organization to develop new business applications?
Yes - 53%
No - 44%
Don't know - 3%