fwiw, they did a great job taking care of me and some other heavy hitters while I was there. Regular bonuses, very very nice salaries, and it was predictable. I worked on products though, not services, and our product made money.

honestly, I don't know what 400,000 IBMers work on. Every company of a certain size and age does layoffs. You could ask the same question of Apple or Microsoft and at some point Google too.