Looks like those who were laid off are the lucky ones. At least they received severance, which means a lot in such a situation. I've heard of several people who were outright fired, supposedly for bad performance. I know one of them and I can tell you that's bullcr-p. That guy is one of the best and hardest workers I know. They were sent out with nothing. That's what I'm the most afraid of. I could handle being laid off. Being fired for no good reason would destroy me.
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I was let go for "performance" this past week but was still offered severance and a neutral separation reason for reference purposes.