"There are salary raises and promotions but 1000 ppl were laid off in March. And more layoffs will continue to happen."
So much this! People who are happy about an occasional raise (which are mostly negligible as it is) and promotions fail to see the bigger picture.
Those moves are always followed by disproportional number of layoffs. Any good announcement is used to mask more layoffs. And next time you get so happy about a raise don't be surprised if you find yourself out of a job soon after.