Just got word. First RAs (IBM doublespeak for "layoffs", as layoffs have legal requirements and "RAs" don't) hitting today, to continue the next few weeks. 10 people today on my team, with "lots more" expected over the next few weeks. The team I'm in should have been spun off to Kyndryl but we were acquired just late enough that we weren't.
Management thinks it will be as bad if not worse than last year's, and I've been explicitly warned to stop all non-essential personal spending from my boss (who I know well outside of work), even though I'm not on the chopping block.