I am not okay with what's going on and actively am looking for a job.
Regardless if this impacts you directly, this cut will be massive and will impact your friends and colleagues. You may not love every single person you work with, but they are humans with mortgages, kids, spouses, dreams, and hopes. Emphasize with them and say or do something kind to them.
Pretending that this won't happen or will happen to someone else is naive at best.
Update your resume
Talk to your friends and your network
Start applying for jobs
Hope is not a strategy.