IBM was known for being a paternalistic company, they didn't pay very well, but took care of their people, so they were loyal forever, as the company was loyal to them.
Now, they are trying to become a more aggressive company, as they feel they are losing market with younger, dynamic and more aggressive competitors. So, they are trying to be more aggressive, and it is by stop caring their people and not valuing their loyalty and dedication, just letting people go to hire younger -and inexperienced- employees, thinking this will not hurt byt dinaymize the business.
This is not the case, and the company I left was in a deep identity crisis between both models, hurting their business as employees are not as committed as they were in the past, as IBM is not giving that back.
Good name, some times work/life balance.
Salary, promotions, future.