I'm surprised anyone is surprised. They have been talking about this since, 2010. Major layoff's have been happening since 2012. Like someone already said "survival of the fittest. " Those that can manage change, those that can survive, left a long time ago, and other companies are reaping the benefits. Have faith in yourself. Take time to acquire new skills, and look for greener pastures. You don't realize how bad it was until you left. Life is too precious to waste on stuff like this.
Whatever they take from you don't let them take your dignity or soul. I know of employees who did things they weren't proud of to advance their career. It got so bad they couldn't even look at themselves in the mirror. In the end they just got tossed aside like everyone else. Don't let that happen to you. Good luck, and God bless you.