I don't like IBM at all, but this article sounds overblown and not properly based. The original InformationWeek article sounds more realistic:

  The document states that the program is limited to "satisfactory performers who have been notified of
  separation from IBM U.S. or Canada and are willing to work on local terms and conditions." The latter
  indicates that workers will be paid according to prevailing norms in the countries to which they
  relocate. In many cases, that could be substantially less than what they earned in North America.

And that is quite a real option if they include other countries like Brazil or Argentina.