LR is “your business function is going away”.
Nope. When I was LR'd back in '16, I was supporting a legacy app and was it's SME. I was at a fairly junior level at supporting the newest tool on the block, but I was making good progress to becoming a SME for it (and I am now the #2 guy on my new team in regards to SME status on the new tool).
I was LR'd and my responsibilities dumped on a teammate. That teammate is still, after 4 years, the responsible SME for that tool which is still used today at Cisco. How is that "my business function is going away?". It's been 4 years and it's still there, just in the hands of a guy 10 years younger than me.
When I was LR'd back in '11, I might agree that my business function was going away, but it took 2 yrs for it to be gone. I could have been kept for 2 more years to retire it and then LR'd, but I was axed due to a disagreement with the manager then. The '16 LR was purely about cutting costs, not about retiring the business function.
Yes, I've been LR'd twice from Cisco. And I'm back again. Why, because Cisco needs my skills in multiple teams and I keep getting asked to come back. And I'll keep taking their severance packages and finding new jobs and putting their severance packages in my retirement savings. It would have been cheaper for Cisco to have just kept me and move me to the other team(s), but hey, I'll keep taking their money. Obviously my business function didn't go away or I wouldn't be able to come back. It just shifted teams.