I've seen few layoffs already, but seeing who got cut this time - this is really something different.
Engineering have never been cut so heavily at higher grades. I would say, that this time they chopped the engineering's head. The numbers of Fellows and DEs - at corporate level, but also some capable PEs and TLs - in some BUs, who has been cut - is tremendous. It remains to be seen, what comes out of that - either they will find a new set of engineering leaders and make it really a point of turn-around, or the company will go down the toilet even faster.
Chuck clearly took a big risk here - personally, I think he's gonna burn himself on that.