I was laid off early last year, but I found another job quickly that paid better and was far more interesting. Do not make staying or leaving IBM into an emotional decision. For myself, although I wish I had not been laid off, it was definitely a blessing in disguise. It taught me that the internal IBM shenanigans need not be tolerated. Vote with your feet and a clear head.
One other side note -- IBM is running an experiment on your group, as it is on all IBM units: keep squeezing to keep the costs down. IBM is more than willing to risk squeezing too hard, rather than "chancing" on not squeeing hard enough. Maybe they think they can backtrack some, I don't know ...