Did this not affect your role: http://www.nbcnews.com/business/business-news/ibm-tells-its-...
Did this not affect your role: http://www.nbcnews.com/business/business-news/ibm-tells-its-...
I said "no", got a new job lined up, and then about 4 months later, they decided not to fire me (they apparently did let go of some people, I was an exception).
I don't recall the exact phrasing, but it was at least hinted that I shouldn't expect a promotion. I never received any of it in writing, it was all phone calls from the start.
I did get a 5% raise a few months later, though.
It didn't work out so well for a colleague of mine who was on the design team. Despite several other teams within IBM trying to hire him, the company stayed the course and let him go. I don't know the full details, but I do know that he's a world-class web/mobile engineer and we're definitely worse off for loosing him. He's in Pittsburgh, if anyone is looking for someone there (or remote): https://www.linkedin.com/in/joshuabsmith/