A few weeks ago someone posted that we're in a recession, which is the reason why all these layoffs are happening. Of course, he was laughed into oblivion, probably more out of fear and denial than any solid, logical proof.
Now markets are tanking, GE's future looks dubious at best, and I see layoffs happening at just about every major corporation, though many are trying to hide them.
Layoffs don't happen for no reason. Execs do it because they know the truth about the economy and the company's financial situation.