I'm sure Ginni will be able to easily pare that back to 500 employees very soon, or even zero, so as not to achieve a 51st year.
"IBM’s Austin workforce grew from 500 people working at a typewriter plant in 1967 to an estimated 6,000 today."
http://www.512tech.com/technology/fifty-years-ibm-still-shaping-austin-tech-sector/7HwYEKAZaAWKB96nPZN3hL/
Co-location is sending waves through Cloud division - must move 50 miles from major sites - NY, San Francisco, Austin, RTP, Littleton, Atlanta. No details about when or where for each team; also most of these sites are in high/very high real estate markets. Questions as to how much space Austin would have; I suppose that is one reason why they are moving Cloud labs out of Austin - frees up space for more desks/"agile" space. But renovations would have to be done, so seems like at least a year away from renovation completions.
Compared to the rest of the country the Austin location(s) are still fairly OK. Needless to say, everyone is expecting a large RA wave in the Fall, so it's not all that rosy...