Former worker here. Sorry to hear you guys being affected by this (I'm trying to find out what happened, if any, to my friends).
I've been in similar situations, so I say this with pain in the hopes it helps you (for whatever it is worth):
Let go of the illusion of loyalty. The number of years we put at one place mean nothing at the end of the day. Beyond your close relationship with your co-workers and immediate managers, there cannot be loyalty from you to the company.
Be loyal to yourself, your family and your interests first. Then loyal to those co-workers and managers immediately above you that deserve your loyalty. And then it stops there.
Another thing. In this industry, our probability of getting laid off increases once we have more than 4 years at any given place. I always expect a forced change of sorts every 4-6 years. It's been like that for the last 20 years.
Please, please, please, please keep this in mind. Devote your hard work as you have to, but do not bank on your years of loyalty or devotion for recognition or safety. Always plan to get booted after 4 years and keep backup plans A, B (local options) and C (out of town.)
It sucks, but that's the type of cards we foot soldiers are dealt with. Stop being a loyal foot soldier and be a mercenary. That is the sad reality.
Good luck to you all.