Yes in previous surplus options have been given. Nothing stops the company from firing you Without reason or in most states as it is. (At will)
ive been around this company in one incarnation or another for many years. I've had periods of direct reports and periods as an individual contributor. its been my experience the company is not out to get you. You have to really make an effort to get fired. In fact it's easier to just keep a Low performing, poor manager than it is to fire them. The only exception is a code of business conduct violation.
This is my long winded way of saying if you respond yes to the letter, I truly feel that no adverse actions will come of it. Some will disagree and that's their prerogative. In the end we're all just spewing our opinions based on experiences.
I hate the build up to all of this as well, hear it was pushed back again was a punch to the gut. I also hear that same line of just keep doing your job and don't worry about it and that doesn't do me any good. But also what more can be said? All my leaders have said this sucks, but just keep doing what you do. So at least I've got some acknowledgment of a bad situation.