http://www.ibtimes.co.uk/inside-ibm-no-one-safe-fresh-round-job-cuts-hits-big-blue-1561781
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This pretty much sums it up:
According to the Wall Street Journal, the latest cuts started as IBM quietly laid off staff from US offices in North Carolina, New York City and Colorado. Meanwhile, in the UK, staff from the firm's Global Technology Services (GTS) have been informed that the corporate axe is expected to swing throughout the month of June, which will be the second round of redundancies to hit UK shores within three months. Additionally, in Australia, reports indicate nearly a dozen jobs were recently slashed from a Sales and Distribution (S&D) department.