Looking around at the IBMers I've seen, any redundancies are bound to affect older people. IBM is either the grey-beard lifers, or fresh out of college. Median age must be about 50. There's a missing generation at IBM, from about 30-45.
I guess that's because IBM have been such a bad employer over the last 8 years (ish) that the aspiring folk left for greener pastures, leaving the oldies & the graduate program.