Have some compassion for the people that don't get let go. Who gets stuck with the remedial spreadsheet tasks when all the low hanging fruit is let go.. THEY DO! Along with the work they currently do, they now have to update some meaningless daily spreadsheet that nobody reads anyway. That's the thanks they get for staying. And if your co-worker happened to do more than update spreadsheets, guess what, you get that work too.
The next round will be even worse. Or by attrition. With all low hanging fruit gone. All that's left is people that do real work but ticked off a director at some point. Now you basically get double work with no more pay and no raises ever becuz "COST CUTTING" But youll stay 4 your 8 weeks of vacation instead of leaving for a reasonable company with reasonable demands