Lots of good people were let go the last 2 rounds and a lot of good folks remain. My experience was the overwhelming majority were good folks doing a good job. Unfortunately, it only takes a few at the high levels to ruin a good company.
My $.02. It started with the replacement of the CEO at GD. Then the CFO at GD. Both were significant downgrades from previous leadership. Then, you had the departure of JL and PH. Whether you liked them or not, I believe most would say they were strong leaders. The supporting cast of LT members have never been strong but were carried by the likes of JL and PH. Then, despite years of talking about GAC employees being the difference, the secret sauce if you will, it was decided to go out and bring in executives from mediocre companies who systematically started bringing in their cronies. Bringing in outside talent is fine, but for goodness sakes, this is Gulfstream freaking Aerospace. With that brand, it should have been possible to bring in proven rock star talent. However, proven talent would have overshadowed and intimidated the weak LT members that have been around for decades. So, bringing in lower level talent from mediocre companies provided security to the existing LT members. Now, mistake after mistake has been made and covered up with recurring layoffs. That won't solve the fundamental problems but it will buy the current LT time to get to their retirement.
So, I don't begrudge the many great folks that are still there. In fact, I feel bad for them. There was a time when if you did a good job you didn't have to worry about being laid off. Now, every time things get bad, everyone will be worried that it might be their time. You see, those that were let go weren't let go because they were good or bad and those that remain weren't kept because they were good or bad. There seems to be very little rhyme or reason beyond getting rid of older folks and throwing in enough other people to make it look less obvious. Best wishes to those that were let go and those that remain because everyone was affected in one way or another. It's difficult to do your best work when you are constantly looking over your shoulder.