Basically, they laid off a bunch of expensive, educated and experienced people and are now looking to backfill the areas they cut too deeply in with cheap labor that they can boot camp to a minimum level of proficiency and then charge the same prices for.
That does indeed seem to be the case. There's a Huff Post article where IBM execs talk about their pilot program that's tied to this "new collar" business:
According to an interview with an IBM official, “The objective is to prepare students for entry-level technology jobs paying around $40,000 a year"[1]
[1]http://www.huffingtonpost.com/alan-singer/what-does-the-p-in...
Edit: The letter she wrote to Trump outlining what "new collar" means: http://fm.cnbc.com/applications/cnbc.com/resources/files/201...
> "Entirely new role in area such as cybersecurity, data science, artificial intelligence and cognitive business"
Leaving the "Entirely new" bullshit, considering that "what matters most is relevant skills, sometimes obtained through vocational training", to me it seems that they simply want to hire software engineers while paying them 2x less than their market rate.
New collar is a bullshit term meant to avoid saying white collar, because they will have the same job with a pay cut.
[1]: http://fm.cnbc.com/applications/cnbc.com/resources/files/201...
I'm surprised that they didn't just go with "No collar", but I suppose it doesn't rhyme with either "blue" or "white".