Sad, but true. To truly trim the fat and look like an independent middle management needs a (big) cut. Perhaps on the next round, but I doubt it. Management watches out for its own, and their own pockets are who they run the corporation for. Maybe being let go isn't so bad at this moment: I get a headstart on all the others "left behind" at work.
I can see it now: no reorg or removal of middle management. The same number of middle managers, but each one overseeing another layer, and perhaps a single "worker bee."