The cuts are impacting morale
Well, no offense, but you have a choice.
As a contractor myself, I constantly get annoyed by listening to other contractors complain about pay/working conditions etc
In this case it seems that the IBM contractors see themselves as IBM staff, just on more cash than the full timers, tough go full time or deal with it.
We are NOT talking about the poor sods on zero hours contracts that are forced to become "self employed" but the upper levels where they don't seem to want to take the negatives along with the cash