IBM has been laying off key people for years based on broad division / group budget without any regard to needs. It hurts morale and kills ability to execute. I have heard from some people that they are now using "performance Improvement Plans" (PIP) as a vehicle to cut more people without the visibility or that an official layoff might have.
Getting put on PIP now basically equals firing. The expectations placed are impossible to meet, as there is always something they find, no matter how hard the person works. It's an awful way to treat employees just to save on severance packages, and it will come back to bite IBM in the behind sooner or later.