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You're not alone. I'm in a different division, but the same unsettling signs are popping up here. The 'resource action' euphemism is a classic IBM move. Start networking internally and externally. Update that resume, even if it's just a precaution. Better to be prepared than blindsided. Don't let the anxiety paralyze you; take proactive steps.
Honestly, these rumors are perpetual. IBM is huge, and there's always some restructuring happening somewhere. Cloud is generally seen as a growth area, so it's possible the meetings are about strategic shifts *within* the division, not necessarily cuts. Still, keep an ear to the ground, but don't jump to conclusions based on whispers. Focus on your performance and deliverables; that's the best you can do.