IBM still has a lot of deadwood that needs to get trimmed but at the same time it desperately needs to hire talent, those two times don't seem to match but they actually do.
IBM has reached a point where the really talented ones either have left or hanging around to close up and retire or are just loyal and wishfulyl hoping for success. At the same time, the weak ones, deadweight, know they can't get past an interview and if they did actually succeed at a good competitive company; therefore, the deadweight stays put. Then add in that IBM is no longer one of the places that the top talent are trying to get into like it was way in the past.
The results is that we are people short, talent limited and many lacking the desire because they don't feel how what they do fit into IBM's plan. Perfect world get rid of all the deadweight and hire in talented focused engineers/programmers.
@2wwt+19kSip8h hits the nail on the head.