As someone in the under 30 bracket working on a mainframe product, this whole "cut the 'old heads' and replace with new talent" thing is ridiculously stupid. The executives don't seem to realize how much of this just plain isn't taught in schools. Younger people can indeed do the job, and building a pipeline for the future is indeed important, but we need those "old heads" who know the job-specific details to mentor us. You can't just hire some 22 year old college grad, throw them into IBM-specific processes with little to no direction, and expect it to go well in the long run. It seems that literally everyone BUT the upper echelons realizes this.
Plus, the amount of younger people getting cut themselves (presumably so they can claim it's not age discrimination) is a HUGE deterrent to the very people they do need to attract. I know I've recently had a few soon to be grads contact me through my university's alumni network about working at IBM. I was honest and told them about the mass cuts going on, even to younger people. They all saw it as a huge red flag and thanked me for warning them so they didn't waste their time even applying.
I'm really not sure how Ginni and her buddies think this will work, or how they can get away with this in the long run. Are they that far removed from reality? (Ok we all know the answer to that one)