The 5000 mentioned just includes the FTE. Contractors, vendors etc laid off will be additional collateral damage. All contracts are "at will." This is a fact.
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I am a contractor and work with FTE and contractors. We all remain in the dark. Agencies were not notified about the layoff!
The contractors were already let go. Of course they let go of contractors before FTEs. This person has no clue.
No longer sounds like 5000 more like 50%.